Prices for ex-Australia premium hard coking coal (PHCC) have moved down indicatively during the past week amid slow demand, bids below $190/mt FOB, and higher availability of cargoes compared to the number of inquiries from buyers.
Offers from traders for ex-Australia mid-volatile PHCC to the Indian market have been at $215/mt CFR and at $210-211/mt CFR later this week. This price translates to 190-195/mt on FOB basis. Market sources said that there are higher volumes offered for September-October shipment compared to demand. “India will restart bookings for October, but for now there are no major changes in demand,” a source said. Buyers’ ideas are not above $185/mt FOB, sources have said.
The latest tradable level in the market is near to futures prices for September contracts at Singapore Exchange - at $189/mt FOB.
The Australia PHCC reference price has declined from last week’s contract price at $197.1/mt FOB to $190/mt FOB.
As for the import market in China, the latest offer for Canadian PHCC has been at $190/mt CFR.
