Australian Coking Coal Prices Stay Flat Amid Subdued Trade in China

Seaborne metallurgical coal prices were mostly stable over the past two weeks, on hushed trading activity in the Chinese market, although demand for April-delivered premium cargoes was observed.

Nevertheless, prices for seaborne coking coal have remained firm as of late, primarily because of persistent tight supply of Australian Premium Low Vol coal, in particular.

Meanwhile, certain sellers were heard unwilling to offer cargoes as they awaited the result of a buy tender issued by a major China-based steel mill seeking 85,000 MT of Premium Low Vol Saraji or Peak Downs with April laycan.

Market sources expect that there could be restocking demand in the near term as more steelmakers would return to fully restock, after their weeklong absence during the Chinese New Year holidays.

PRICE ASSESSMENTS

Latest offers for the Premium HCC grade are assessed at around USD 213.25/MT FOB Australia, which is almost at par with the average rates that prevailed in the week gone by (25 Feb - 1 Mar'19).

Offers for the 64 Mid Vol HCC grade are assessed at around USD 183.40/MT FOB Australia.

For Indian buyers, the above offers amount to USD 225.35/MT and USD 195.50/MT respectively on CNF India basis.