Prices of metallurgical coal offered to Asian spot market fall on the back of increased cargoes offered from Australia, Indonesia and Russia. Also, less buying interest in the market is responsible for price decline.
According to market participants, weak Chinese market is disturbing buyers leading to wait and watch situation. “The commodity market is challenging, prices can now go only in one direction which is down”, an end user based in China said.
Current price for Premium Low Volume is at $149/MT (FoB Australia) converting to $166/MT while reaching to India, whereas HCC 64 mid volume is at $134/MT FoB. Panamax dry bulk freight charges from Australia to India is at $17/MT.
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