Australian premium HCC offers to India have slipped down by USD 1-2/MT W-o-W. While, HCC offers have remained stable.
Prices of Australian Premium HCC, the most preferred grade of coking coal among Indian steelmakers, have been falling continuously since past few months. In-line, Australian coking coal prices this week have again gone down by USD 1-2/MT.
Lack of trading interest from China has led to fall in coking coal prices in global market.
However, Australian HCC prices are more or less stable this week after witnessing continuous downfall in previous weeks.
Australian Premium HCC offers to India this week are assessed at USD 88-89/MT, CFR India. Whereas, Australian HCC is offered to Indian buyers at USD 83-84/MT, CFR India; registering no change in a week.
“Replete stock available among Chinese steelmakers will cause no betterment in coking coal global trading in near future and Met coal futures may fall further”, claimed a market participant.
According to latest SteelMint data, India has already imported 4.2 MnT of coking coal in Oct’15, which was about 3.9 MnT in Sept’15.
Premium HCC offers are hovering in the range of INR 6,500-7,000/MT for Indian buyers (stock & sale; exclusive of all duties and clearances) and HCC is costing at around INR 6,200-6,700/MT (stock & sale).
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