Prices for ex-Australia coking coal have reached a new high this week after a deal for 75,000 mt of ex-Australia mid-volatile premium hard coking coal (PHCC) Goonyella was signed at $209.9/mt FOB for January laycan. This means an increase of $3.39/mt compared to the previous deal. At least two more bids for Goonyella cargoes for January laycan have been placed at $209-210/mt FOB by the end of the week.
Earlier this week, a few buyers had voiced bids at $206/mt FOB and $207/mt FOB, while offers for similar material were at $211-214/mt FOB. Traders have been looking for January laycan cargoes for the Indian market, while overall supply has remained limited.
In India’s import market, the tradable level is heard to have increased to $225-228/mt CFR, versus negotiations for prompt shipment at $223/mt CFR a week ago.
At the same time, the Chinese coking coal market has remained weak as mills have managed to achieve a second round of decreases in local coke prices. Some deals for second-tier Canadian hard coking coal have been heard at $185/mt CFR, while the tradable level for premium hard coking coal is close to $200/mt CFR.