According to sources, Australian premium spot pricing for coking coal was approximately $170-175/mt CFR Rotterdam (Netherlands) for the week ended February 10.
Meanwhile, US high quality coking coal from the East Coast is at $170-175/mt FOB East Coast or approximately $180-190/mt CFR Rotterdam (Netherlands). According to sources, the premium pricing and demand for US coking coal blends is attributed to reduced shipping times and lower working capital requirements.
Sources tell SteelOrbis that Australian coal purchases require more financial capital for the necessary high-volume contract purchases. Additionally, European customers face two to three months of waiting time from the time of purchase to delivery.