Australian Premium HCC offers have fallen by about USD 1-2/MT W-o-W. Whereas, Australian HCC offers are stable.
Australian Premium HCC offers have witnessed continuous downfall in past couple of months. Prices have fallen continuously W-o-W. Australian Premium HCC prices, this week are assessed at USD 80-82/MT FOB against USD 82-83/MT in the previous week.
Australian HCC offers are stable and are assessed at USD 75-76/MT FOB, similar to last week.
A market participant highlighted, “Coking coal offers from Australia are falling continuously in global market and show limited scope for betterment in near future.” Whereas, one of the importers claimed that they have booked Australian Premium HCC at USD 86/MT CFR India for 65,000 MT vessel.
Freight rates from Australia to India are in the range of USD 8-14/MT.
1. Supramax- USD 13-14/MT
2. Panamax-USD 10-11/MT
2. Capesize- USD 8-9/MT
According to SteelMint’s latest assessment, India has imported 3.8 MnT of coking coal in Sept’15, which was around 4.3 MnT in Aug’15.
Grade – Australian Premium HCC
Prices in FOB (Average Monthly Prices)
Contract price between Australia and Japan
Global contract price for coking coal was settled at USD 89/MT for Q4 CY’15 registering a decline of about 24% compared to Q1 CY’15. Production increased continuously from the giant coking coal exporter, Australia and there were strict rules and regulation on import of coking coal by China, the major importer of coking coal. Together, these resulted in over supply of material, which caused crashing of prices in global market.