Coking coal offers from Australia are evaluated at USD 78-88/MT, FoB for different grades. Spurt in demand in China is the real explanation behind rise in prices.
Australian coking coal prices rose this week due to contracted supply in China and surging Chinese steel prices.Coking coal offers grew transversely over all segments. Australian PHCC and HCC prices moved by around USD 7-8/MT in a week’s time.
SteelMint surveyed that Premium hard coking coal from Australia was opened at around USD 95-96/MT, CFR India. Prices grew considerably in weekly premise. This equated to USD 88-89/MT, FoB Australia, depicting Panamax-size vessel from Australia to India at around USD 7-8/MT.
Vessels of Australian HCC were in like manner heard to be available at USD 85-86/MT, CFR India. Hard coking coal costs were overviewed at around USD 78-79/MT, FoB for panamax vessel.
A trader told to SteelMint, ”Limited selling is seen in the market. Although, buyers are ready to pay high prices, sellers are not committing anything due to non-availability of the material.”
Grade- Australian PHCC
Source-SteelMint Research
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