The downtrend in the Australian premium hard coking coal (PHCC) has continued, reflected in lower offers and some deals as supply has still been higher than demand and some mills have been eager to re-export coking coal.
A deal for 30,000 mt of ex-Australia mid-volatile Goonyella PHCC was heard at $184/mt FOB for April laycan, while an additional volume was traded at the index-based price. This is down by $2/mt from the reference a day ago. Also, an offer from the European steel mill for 54,000 mt of low-volatile PHCC has been reported at $185/mt FOB, versus $186/mt FOB early this week and $188/mt FOB last week.
Small-volume contracts in India for March shipment have been heard at $205/mt CFR, but overall demand from Indian mills has been limited amid uncertainties in the steel trend and the recent production cuts.
In China, the tradable level for PHCC is stable at $173/mt CFR.
