Asian Met coal market has witnessed slight improvement in trading activities, but demand is still weak. Prices more or less stable post holiday.
China, the biggest coal market in the world, opened on Monday after week long holiday. However, bearish sentiments still persist in market and prices show minor corrections. Weak demand from China had led to downfall in prices. However, demand for the material was heard to be good outside the country.
A supply glut in the recent past has deteriorated the market to such an extent that supply shortage for shorter duration will be of no help to strengthen Met coal prices.
SteelMint assessed that currently, Premium HCC, the premium coking coal l brand from Australia to India are assessed at USD 79.5-80.5/ MT, CFR India and cargoes of Aussie’s HCC were heard to be available at USD 77-78 /MT, CFR India. Hard Coking coal prices were assessed at around USD 77-78 /MT, CFR India a week ago.
[su_quote]A Chinese trader told SteelMint, “Offers for Aussie’s coking coal are more or less hovering within the same range. However, it is predicted that prices may strengthen marginally in coming weeks.”[/su_quote]
Meantime, SteelMint assessed that import of coking coal to India has shown a marginal fall of 1% in Jan’16 and was assessed at 4.1 MnT against Dec’15. It is to be noted that coking coal import to India remained same as the preceding month. Amid of centre’s considerable efforts, import is still huge.
SteelMint also assessed that India has already imported 1.8 MnT of coking coal in Feb’16 till latest updates.
Qty in MnT
Price- USD/MT FoB (Australian PHCC)
Source- SteelMint
Feb’16 Imports Till latest updates
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