Australia: Coking coal export shipments rise by 13% in Aug'24, volumes to India dip
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Exports to India, Japan drop m-o-m
In August 2024, shipments to India dipped to 1.66 mnt from 2.81 mnt in July, marking a 41% decline m-o-m. Concurrently, exports to Japan saw a slight downturn, settling at 2.57 mnt in August compared to 2.79 mnt in July, reflecting a 8% m-o-m dip. Moreover, exports to South Korea stood at 1.63 mnt in August compared to 1.70 mnt in July, showcasing a 4.2% decrease.
Conversely, exports to China witnessed a rise by 24% m-o-m from 1.16 mnt in July to 1.44 mnt in August.
DBCT continues to remain largest load port
The Dalrymple Bay Coal Terminal (DBCT) saw a rise in coking coal shipments, loading 5.41 mnt in August compared to 4.27 mnt in July, marking a 27% m-o-m increase. Moreover, Gladstone Port experienced an increase, handling 3.72 mnt in August, up from 3.33 mnt in July, a 12% m-o-m increase in coking coal exports.
Haypoint Port, on the other hand, recorded a decrease loading volumes at 2.43 mnt in August as compared to 2.86 mnt in July. However, Port Kemble reported a rise, loading 0.36 mnt in August compared to 0.12 mnt in July, representing a 196% m-o-m increase in shipments.
Australian coking coal prices drop
Australian coking coal prices fell in August by $30/t to $208/t FOB. Increasing steel inventory, falling steel exports and arrival of previously booked imported cargoes have kept buying interest subdued from Indian mills.
