Prices for ex-Russia coking coal have been increasing recently with the supply remaining very limited due to transportation issues on railways, caused by derailments of wagons, floods, and overall limited railway capacities.
The offer price for Deni Deep premium hard coking coal has been reported at $170/mt CFR China, up from the previous indicative level at $160/mt CFR reported last week. In addition, the price for K10 material has been assessed at $170/mt CFR, versus previous deals at $150/mt CFR and slightly above around ten days ago. “In the domestic market, K10 sells now from stocks at equivalent to $173-174/mt, so the target would be $170/mt CFR at the lowest for China, but offers are very limited,” a trader said.
Ex-Russia PCI has been offered at $140/mt CFR to India and, if there is success in sales in the recent RINL tender, suppliers are expected to hike offers to China as well. The latest offers of PCI to China have been at $136-138/mt CFR.