Seaborne premium hard coking coal prices have remained unchanged since last week, as buying interest from Chinese end-users remained steady.
However, strict port restrictions have dampened demand for physical cargoes of seaborne coals in China.
Only power companies or industrial end-users can land cargoes in China, as many traders and importers lack the official import quotas or other paperwork required to navigate seaborne cargoes past restrictions at Chinese ports, according to S&P Global Platts.
In addition, Chinese coal demand has been largely affected by other headwinds, like Yuan currency weakness, as well as winter production cuts.
Meanwhile, Indian buying activity has considerably subdued due to the onset of monsoon.
Price Assessments
The latest price for the Premium Low Vol grade is assessed at around USD 183.75/MT FOB Australia, down 60 cents from the average price of USD 184.35 in the week gone by (13-19 Aug’18).
Latest import offers for the 64 Mid Vol HCC grade are assessed at around USD 157.50/MT FOB Australia.
Source: CoalMint Research
For Indian buyers, the above offers amount to USD 198.50/MT and USD 172.25/MT respectively on CNF India basis.
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