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Coking Coal Price Rise Continues on Tighter Supply

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Coking

BigMint Bureau

629 Reads

22 Nov 2017, 16:14 IST

Coking Coal Price Rise Continues on Tighter Supply

Coking Coal spot prices have continued to rise as availability of cargoes for this year became tight and demand from non-Chinese steel makers was stronger. At the same time, delays at the DBCT of Australia contributed to the price rise.

The latest offer for the Premium HCC is reported to go up by around USD 4.75/MT to around USD 194/MT FoB Australia over the week-ago offer. The recent offer for the 64 Mid Vol HCC is reported at around USD 154.25/MT FoB Australia, almost unchanged from the offer in the week last.

Source: CoalMint Research

For Indian buyers, these offers amount to: USD 206.50/MT and USD 166.75/MT respectively on CFR India basis.

In India, the Coal Ministry was heard to have finalized some Coking Coal mines in Mozambique from which the coal will be imported into India.

Imports of the coal are going on continuously in India as active steel making is going on in the country. According to the data compiled by CoalMint Research, around 2.83 MnT of the coal was imported in India during 1-20Nov'17.