Prices for ex-Australia premium hard coking coal (PHCC) have improved in late September, following the revival of demand and bookings for November shipment. In particular, a deal for 75,000 mt of mid-volatile Goonyella PHCC has finally been closed at $191.1/mt FOB for November laycan, up from the previous sales at $188-189/mt FOB. A few bids for mid-volatile material have also been heard at $190/mt FOB.
Also, a bid for 75,000 mt of low-volatile Peak Downs PHCC has been heard at $188/mt FOB.
The recent increase in bids and the closing of some deals have been observed amid the expected revival in sales to India over the next two weeks. While the previous transactions to India were done at $201-202/mt CFR, the new round of sales should be concluded at $205-208/mt CFR, market sources believe.
In addition, rather positive sentiments have prevailed in China, where local coking plants have proposed price increases after a short period of declines. Also, the tradable level for import PHCC in China has been assessed at $190-195/mt CFR at the end of this week, versus sales of Canadian PHCC at $180-185/mt CFR a week ago.
The SteelOrbis reference price for ex-Australia PHCC has increased by $3.1/mt to $191.1/mt FOB.
