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Australian Coking Coal Prices Inch Up on Resurgent Buying Interest

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Coking
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14 Feb 2019, 17:30 IST
Australian Coking Coal Prices Inch Up on Resurgent Buying Interest

Seaborne premium hard coking coal prices strengthened on greater buying interest amid supply concerns emerging among end-users, although delivered prices to China witnessed a slight dip amid restrictions and prolonged customs clearance for Australian coking coal.

Even though the Chinese buyers have returned after their week-long celebration, market activity remained thin so far this week. No firm offers were heard as market participants were still assessing the restrictions imposed on Australian coking coal arriving in China.

In Australia, operations at the Abbot Point Coal terminal are expected to resume soon, and minimal impact is expected given that the force majeure is not due to mining-related issues.

However, sellers are heard expected a tightening supply in the seaborne market, as mining activities slowed down during the heavy rains. This could incentivize increased demand for seaborne coking coals by end-users.

PRICE ASSESSMENTS

Latest offers for the Premium HCC grade are assessed at around USD 205.75/MT FOB Australia, while offers for the 64 Mid Vol HCC grade are assessed at around USD 177.50/MT FOB Australia.

For Indian buyers, the above offers amount to USD 216.90/MT and USD 188.65/MT respectively on CNF India basis.

14 Feb 2019, 17:30 IST

 

 

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