The United States’ metallurgical coal export prices have been inching down gradually over the last one week, primarily on account of a year-end slowdown in China’s imports coupled with weak immediate demand in Europe and limited coal sales into Turkey on tariffs hike.
Moreover, Atlantic coking coal prices continue to remain under pressure from falling steel and iron ore prices.
Nevertheless, prices in the seaborne coking coal market are supported by persisting global supply concerns, with the approaching winter season and the potential for cyclonic weather-related disruptions in Australia.
Furthermore, lengthy vessel queues at Queensland’s Dalrymple Bay Coal Terminal (DBCT), and growing queues at other Australian coal-handling ports lend additional support.
PRICE ASSESSMENTS
- The latest FOB US East Coast price of low-vol hard coking coal is assessed at around USD 202/MT, based on 58% CSR, 8% ash, 0.8% sulfur and 19% volatile matter.
- For Indian buyers, the above price translates to USD 235.75/MT on CNF India basis, after considering a dry bulk freight rate of USD 33.75/MT for Panamax vessel class.
- High-vol A coking coal is assessed at around USD 213/MT FOB US East Coast, with 7% ash, 0.85% sulfur and 32% volatile matter.
- High-vol B coking coal is assessed at around USD 171/MT FOB US East Coast, with 8% ash, 0.95% sulfur and 34% volatile matter.
Source: CoalMint Research
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