According to information available with Steel Insights, the premium variety was quoted at $101.50 per ton FOB Australia on November 30, 2020 as against $108 per ton FOB Australia on October 30. Peak Down prices were quoted at $102.50 per ton FOB Australia on November 30 as compared to $109 per ton FOB Australia on October 30.
The most recent transaction was sealed at a lower price. The restrictions put on China buyers resulted in easing of prices for premium low-vol hard coking coal, but Chinese buyers were losing on the price advantages enjoyed by others on Australian materials.
According to sources, further fall in premium hard coking coal FOB prices is not likely as that would erode profitability of operations for many Australian miners. Chinese buyers are looking for sourcing the materials from alternative sources such as the US and Canada, though at a higher freight and CFR prices.
This story is from the December 2020 edition of Steel Insights.
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This story is from the December 2020 edition of Steel Insights.
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