Australian Coking Coal Market Muted Amid Inactivity on Uncertain Steel Outlook

Australian premium hard coking coal prices were mostly flat so far this week, after a $5.50/mt jump on last Friday, while prices for the 64 Mid Vol grade were steady.

Deepening concerns about weak steel prices in the Chinese market had resulted in a slowdown in coking coal trading activity.

Moreover, Chinese end-users are heard awaiting results of a conference held in Chengdu for long-term contract price negotiations of 2019 between major domestic coking coal miners and steel mills.

Furthermore, Chinese steelmakers are waiting for updates on 2019 import quotas before taking any new positions currently for buying seaborne coking coal.

PRICE ASSESSMENTS

The latest price for the Premium HCC grade is assessed at around USD 223/MT FOB Australia, higher by about USD 3.87/MT than the average price of around USD 219.13/MT in the week gone by (5-9 Nov'18).

Latest import offers for the 64 Mid Vol HCC grade are assessed at around USD 195.10/MT FOB Australia, higher by about USD 0.47/MT than the average price of around USD 194.63/MT in the last week.

Source: CoalMint Research

For Indian buyers, the above offers amount to USD 237.75/MT and USD 209.85/MT respectively on CNF India basis.