Coking coal import witnessed a rise of about 15% M-o-M in Aug’15. Met coke import to India was assessed at 0.3 MnT for the month.
India, a major player in coal imports, imported about 4.2 MnT of coking coal in Aug’15 against 3.6 MnT in July’15. Continuously lowering prices in the global market can be considered as a major reason for increased import by Indian importers.
Struggling Chinese economy impacted its steel industry. This led to production cut, causing lower imports, which finally resulted into falling of metallurgical coal and coke prices.
Australia’s premium hard coking coal is assessed at USD 84-85/MT FOB Australia for Aug’15, its lowest in last three years, as per data available with SteelMint.
Along with coking coal, about 0.3 MnT of met coke was imported to India. Average monthly prices of Chinese met coke is assessed at USD 148-149/MT CFR India.
SAIL emerged as the top importer and imported about 1.3 MnT of coking coal in Aug’15, registering an increase of about 26% against July’15. Whereas, Essar Steel imported about 0.1 MnT of met coke in Aug’15 against 52,000 MT in July’15.
Australia being the prime exporter of coking coal to the country contributed about 88% of the total import, assessed at 3.7 MnT in Aug’15.
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