A deal for 75,000 mt of ex-Australia mid-volatile Goonyella premium hard coking coal (PHCC) was done at $245.35/mt FOB for July laycan in the middle of this week, which is up by $1.35/mt compared to the previous deal for this grade.
Also, a trader sold 75,000 mt of Daunia hard coking coal at $205/mt FOB also for July shipment, while it had been sold from a miner to the trader at $201.5/mt FOB earlier in the week.
Though demand has not been high, market sources said it is stable and that in the near term the market will follow developments in futures and in market sentiments as the fundamentals are unlikely to change drastically.
In general, the market has been supported by stoppages and then inspections at major coking coal mines in Shaanxi Province in China since last week. This has limited supply and has boosted market sentiments. The indication for PHCC in China stands at $230-235/mt CFR, up $10/mt over the past week. Negotiations for second-tier brands have been heard at $220-225/mt CFR.
Meanwhile, ex-Russia PCI has been sold at $154/mt CFR China.
