Seaborne coking coal prices showed a decline in October 2017, mainly due to low procurement by China and India, amid expectations that prices may ease further in the winter months, industry sources said.
According to information available with Steel Insights, the premium variety was quoted lower at $180 per ton FOB Australia on October 30, compared to $189 per ton FOB Australia as on September 29. Peak Down prices were quoted at $181 per ton FOB Australia on October 30 as compared to $190 per ton FOB Australia on September 29. There was also a drop in semisoft prices during the month.
The sources said the decline in seaborne coking coal prices was on the expected line in the absence of fresh offers and bids. Although Australia-origin seaborne cargoes remained on offer in the market there was less number of takers in the market.
“We are not taking spot cargoes at the moment due to the long wait time at the ports and because our term contract tonnages are enough for our current needs,” a trading source in India said.
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