MMTC, a leading international trading company in India and one of the major global players in minerals trade, invites “Expression of Interest (EOI)” for supply of Coking Coal to NINL from the overseas suppliers supplying coking coal to SAIL and RINL.
MMTC may choose to enter into Long Term Agreement with interested parties initially for a period of 3 years on the same terms and condition of the long term agreement signed by suppliers with SAIL and RINL.
Eligibility Criteria:
• The supplier should be supplying coking coal to SAIL and RINL and their LTA should be valid with both SAIL and RINL.
• Selected supplier shall be a miner of repute having Coking Coal mines in Australia, New Zealand, USA, Canada, Mozambique, Indonesia, Russia, China, Venezuela etc.
• The Brands of Prime Hard Coking Coal, Semi Hard and Soft Coking Coal should have been accepted and used by both RINL and SAIL. MMTC shall not accept any other brand of coking coal which has not been accepted by SAIL/RINL.
• MMTC reserves the right to change the quantities agreed during the period of LTA.
• The Supplier shall expressly agree with MMTC to offer Coal on FOBT or C&F FO basis.
• Payment Terms shall be similar to Payment Terms offered by the selected Supplier to SAIL and RINL
Tender schedule (IST): Due date for submitting the offer is 22 Dec’17 till 17:00 hrs.
Under the influence of the supply tightness and stronger demand, the spot prices of Coking Coal have continuously moved upwards.
The latest export offer for the Premium HCC is assessed at around USD 206.50/MT FoB, which is higher by around USD 12.5/MT over the offer in the week last. In a similar trend, the recent offer for the 64 Mid Vol HCC is assessed at around USD 166.40/MT FoB, which is up by around USD 12.15/MT against the week-ago offer.
For Indian buyers, these offers translate into: USD 219.50/MT and USD 179.40/MT respectively on CFR India basis.
During the period of 1-27Nov’17, around 3.7 MnT of Coking Coal was imported in India, data compiled by CoalMint Research.
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