Seaborne coking coal prices fell in October on low procurement in China and India, industry sources said.
According to information available with Coal Insights, the premium variety was quoted lower at $177.25 per ton FOB Australia on October 23, 2017 as against $189 per ton FOB Australia on September 29, 2017. Peak Down prices were quoted at $178 per ton FOB Australia on October 23, 2017 as compared to $190 per ton FOB Australia on September 29.
Seaborne coking coal prices eased amid absence of fresh offers and bids.
Although Australia-origin seaborne cargoes remained on offer in the market there were 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 source said.
Chinese end users of seaborne coking coal have stopped making purchases ahead of measures to cut emissions, sources said.
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