Coking Coal Prices Fall Again After Cyclone Departs

The Coking Coal market has now calmed down after the tropical cyclone going away without any notable devastation in the coal producing regions of Australia.

The impact of over-supply versus weak demand has again come to the fore, with the coal prices depicting a sliding trend.

With trades happening at lower deals, sellers of the coal in Australia have continuously lowered their prices.

In the Indian context, the steel makers have lowered their imports mainly in view of the falling Coking Coal prices.

The latest offer for the Premium HCC has come down to around USD 192/MT FoB Australia, which was lower by around USD 5.5/MT over the week-ago rate. However, there was not much change in the recent offer for the 64 Mid Vol HCC that was assessed at around USD 180.80/MT FoB Australia.

Source: CoalMint Research

On CFR India basis, these offers translate into: USD 204.80/MT and USD 193.60/MT respectively.