On August 1, SteelOrbis reported offers for PHCC (premium hard coking coal) to India at $172-172.5/mt FOB Australian port.
On August 10, SteelOrbis reported PHCC to north China port at $190.25/mt CFR, higher than the CFR China estimate for August 1- which usually trends slightly over FOB prices. Sources inform SteelOrbis that given the large volumes of coking coal purchased by Chinese buyers their actions largely dictate the market direction. Therefore, in the same period coking coal prices to India also increased. On August 10, SteelOrbis is informed that PHCC to India was at $184/mt FOB Australian port and $197.75/mt CFR India. In FOB terms, PHCC increased $11.5-12/mt compared to August 1.
Sources inform SteelOrbis that the strong prices have continued through the week and prices to India for PHCC are now reportedly at $185/mt FOB Australian port and $199-200/mt CFR India. Compared to August 10, PHCC offers to India have increased by $1.25-2.25/mt in CFR terms and $1/mt in FOB terms.