Seaborne coking coal prices moved up by around $50 per ton FOB Australia in December as buyers faced difficulties in securing loading slots in Queensland for contract cargoes for restocking, industry sources said.
According to information available with Steel Insights, the premium variety was quoted higher at $262 per ton FOB Australia on December 28, 2017 as against $212 per ton FOB Australia on November 30, 2017. Peak Down prices were quoted at $263 per ton FOB Australia on December 28, 2017 as compared to $213 per ton FOB Australia on November 30.
The volatility in spot prices eased in the last week of the month, as demand waned ahead of the year-end holidays.
However, for the better part of the month, the tightened supply kept pushing up the prices, impacting the Asia Pacific market which showed some appetite. This included the Indian buyers who faced challenges due to the vessel queue situation in Queensland, the sources said.
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Steel's Net Zero mission
The countryâs commitment to achieving Net Zero within a targeted timeframe will now propel its steel sector towards a sustainable future in line with global trends.
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Seaborne coking coal offers remain range-bound
Seaborne coking coal offers moved in a narrow range in October amid global supply tightness and healthy spot demand.
Global crude steel output down 8% in September
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MOIL embarks on expansion projects
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