In contrast to Chinese Coking Coal buying, Indian buyers are more enthusiastic over low international Coking Coal prices which attracted buyers to book more quantity and led Coking Coal imports to increase by 10.3% Y-o-Y to 39.5 MnT.
International Coking Coal prices are basically suppressed by the weak demand in the market. Indian steel manufacturers had taken the opportunity for buying more Coal at low prices.
With respect to Coking Coal requirement market expert believes that Coking Coal situation to remain same in international market and prices may remain flat without any major fluctuation during the April.
A Coking Coal trader based in India said, “Coking Coal demand in India will remain firm compared to other market and current market extending steel makers to widen their margin owing to low raw material prices and high finished materials cost.”
SteelMint noted that Australian Moura soft Coking Coal has been traded at USD 124-125/MT on CIF basis. Curragh Semi Soft coking Coal has been traded at around USD 135-136/MT on CIF at Kolkata port.
Prevailing to current market prices, Indian buyers are booking quantities at low prices, Premium grade Hard Coking Coal is trading at around USD 127-133/MT CIF India.
Mangalore port has handled around 7.5 MnT imported Coking Coal which is the highest imports among Indian ports. Paradip & Vizag has handled around 6.2 MnT imported Coking Coal during FY14. Coking coal imports of SAIL, JSW Steel, Tata Steel, RINL & JSPL accounted around 71% in total imports.
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