The fall in Australian coking coal prices by up to 30% from the peak of $530/t (FOB Australia) in the third week of May led Indian buyers to book vessels. About 0.93 million tonnes (mnt) of coking coal is expected to arrive at Indian ports between 18 June-10 July, CoalMint vessel line-up data reveals.
Coking coal volumes arriving by 10 July
The highest quantity of coking coal will arrive from Australia with Tata Steel bringing in about two-third of the total volume. In the case of US coal, SAIL is bringing in the highest volume of 0.16 mnt.
Dhamra Port is to receive about 60% of the total quantity.
PCI
The entire quantity of 83,600 t of pulverised coal injection (PCI) will come from Russia with JSW Steel being the only importer.
Met coke
About 69,650 t of met coke will arrive at Indian ports during the said period with 35,000 t coming from Australia imported by AM/NS India while the remainder is coming from Colombia.
Anthracite
About 35000 t of anthracite coal, entirely from Russia, will arrive at Indian ports. The only importer is Amba River Coke.
India’s coking coal stock at ports
India’s coking coal stock at ports rose by 18% m-o-m to 3.9 mnt in the second week of June. The stock went up as coking coal utilisation reduced amid decreasing steel demand in India.
Outlook
With Indian steel export offers becoming uncompetitive in the export market and domestic steel demand being already sluggish, import demand for met coke and coking coal is expected to go down in the near term.
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