On September 20, SteelOrbis reported offers for PHCC (premium hard coking coal) from Australia to India up at $222-223/mt CFR India or approximately $206-207/mt FOB Australia.
According to sources, Australian PHCC has firmed up since then and is now reportedly at $228-230/mt CFR India or approximately $213/mt FOB Australia. In CFR terms, prices are up $6/mt from the bottom of the previous range and $7/mt from the top of the same range. The increase is attributed to concerns about supply in the short-term, although, the long-term prospect for coking coal price is expected to decrease in the next two years according to recent reports.