Prices for ex-Australia premium hard coking coal (PHCC) have decreased, as confirmed in a new booking.
A contract for 30,000 mt of mid-volatile Goonyella PHCC has been done at $229/mt FOB, down from the previous assessment of $233/mt FOB early this week. The transaction is for future sale to India, where demand has been critically low recently due to the monsoon season and the lack of improvement in steel prices. An offer for mid-volatile PHCC has been heard at $230/mt FOB, but sellers will resist going below this level, market sources said.
As for the other major trade destination, China, the tradable level for import PHCC has come down to $245/mt CFRR, versus $250-255/mt CFR last week. Market sources said that this level is indicative as there is no interest in purchases by Chinese mills amid their already good order books and lower steel production plans.
