Ex-Australia premium hard coking coal (PHCC) prices have improved in the latest deals as demand from India is somewhat better after the latest news about India extending import curbs on low-ash metallurgical coke.
One contract for 55,000 mt of mid-volatile Illawarra PHCC was done at $181/mt FOB, while another deal for 75,000 mt of mid-volatile Goonyella PHCC was signed at $186.45/mt FOB, both for August laycan. In the first contract, the material can be replaced by low-volatile Peak Downs PHCC and a price at $178/mt FOB. The new deals reflect improved demand from India and with steel mills looking for specific high-quality brands of mid-volatile material.
The SteelOrbis reference price has increased by $5.7/mt to $183.7/mt CFR.
In the Chinese market, coking coal futures have moved up and mills have started to implement the first local coke price increases after four rounds of declines.