Coking Coal spot prices have remained at lows as there was no sufficient demand to trigger upward movement in the prices.
Import demand for the coal from steel makers in China has waned as production of Coking Coal in China increased due to coal mines there operated at higher rates. However, Indian steel makers have imported the coal for stocking as well as catering to their regular consumption.
The fresh offer for the Premium HCC is assessed slightly higher at USD 148/MT FoB Australia than that in the week last. The current offer for the 64 Mid Vol HCC is also assessed marginally up at USD 140/MT FoB Australia as compared to the week-ago rate.
Source: CoalMint Research
For Indian buyers, these offers translate into: USD 159/MT and USD 151/MT respectively on CFR India basis.
LATEST DEVELOPMENTS
Lately, the state-run Coal India Limited (CIL) has decided to offer Coking Coal through the auction route to customers other than the public sectors units (PSU) in the country only after meeting the demand from the PSUs. However, CIL has made it clear that washed Coking Coal and Steel Grade II will be offered for metallurgical purposes.
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