A deal for 40,000 mt of Branded mid-volatile premium hard coking coal (PHCC) from Australia was done at $195/mt FOB for November laycan yesterday, September 25. This is up by $7/mt from the previous reference price of $188/mt FOB. In addition, a bid for 75,000 mt also of Branded material was at $185/mt FOB.
Market sources said that there were a number of deals from traders to Southeast Asian and Far Eastern mills for premium low-volatile and high volatile coking coal in the range of $183-188/mt FOB, but at the moment the tradable level has moved above $190/mt FOB.
Offers for PHCC from Australia to China have increased by $7/mt to $210/mt CFR. “The steel market is increasing rapidly. More coke price rises are expected, [in the local market in China],” a trading source said.
Indian mills have also been more interested in purchases, with the tradable levels assessed at $205-210/mt CFR, for October laycan.