JSW Steel Global Trade Pte Ltd, the distributor for leading Indian steelmaker JSW Ltd, has announced its intention to sell ex-Australia premium hard coking coal. Accordingly, on July 26 the company is determined to float 45,000 mt of Goonyella Riverside brand and 35,000 mt of Goonyella Riverside/Caval Ridge, with August 22-31 laycan. The material is destined to be shipped from the Port of Hay Point, either from the North Queensland Export Terminal or Dalrymple Bay Coal Terminal.
Overall, most insiders in the coking coal market have remained highly pessimistic towards future market developments, opting for now to wait for the results of the tender in order to decide their next steps. As SteelOrbis has reported, the latest transaction for the premium hard coking coal of brands in question was fixed at $225/mt FOB Australia. Afterwards, the offer at the abovementioned price failed to attract any buying interest.
Meanwhile, at Singapore Exchange (SGX) ex-Australia coking coal prices have inched down substantially. Accordingly, on July 25 ex-Australia coking coal prices for August contracts have settled at $230/mt, down $11/mt from the previous levels, while the prices for September contracts have declined by $7/mt from the previous levels to $240/mt.