Low trading discovered in Met coal market as sellers are firm on their offers and entertained no bargaining. On the other hand, buyers vigilant over high prices, yet were ready to buy the material.
Metallurgical coal offers again saw uptick transversely over all segments. Hard coking coal segment was the most affected. Australian PHCC and HCC costs ascended by around USD 3-4/MT. While, PCI offers stayed pretty much steady.
SteelMint assessed that Premium hard coking coal from Australia was accessible at around USD 88.5-89.5/MT, CFR India. Price inched up by around USD 2.5-3/MT. This liken to USD 81-82/MT, FoB Australia; consequently portraying, Panamax-size vessel from Australia to India at around USD 6-7/MT.
Alike, vessels of Australian HCC were like-wise heard to be accessible at USD 84-85/MT, CFR India. Hard coking coal prices were surveyed at around USD 81-82/ /MT, CFR India a week back.
A trader told to SteelMint, ”Sellers are unwilling to bring down their offers, rather they decided to hold their booking and anticipated further price rise in coming weeks.”
Coking coal import to India
India, perceived amongst the biggest coking coal merchant all around, has imported 3.4 MnT of coking coal in Feb’16. The quantity was about 0.6 MnT lesser than the previous month. In the midst of persistent mounting production of CIL, Indian steel creators imported lion’s share of coking coal. The reasons behind this is a small share of coking coal from Indian coal holds and absence of high quality required for delivering coke of prime quality required in steel generation.
Source- SteelMint Research
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