Coking coal prices fall further on account of low buying with market showing no signs of improvement.
Hard coking coal of premium low vol grade is being offered at around $178 CFR India. Whereas, HCC 64 mid-vol prices remained stable at $139/MT FOB.
Manufacturers in China acknowledge that imported material is presently cheaper than the domestic offers but such material takes about a month to arrive, by which time who knows the local offers may come down further. However, it is difficult to say if the offers would stand at these levels or fall down more in September.
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