According to information available with Steel Insights, the premium variety was quoted at $110 per ton FOB Australia on April 30 as against $114 per ton FOB Australia on March 31. Peak Down prices were quoted at $111 per ton FOB Australia on April 30 as compared to $115 per ton FOB Australia on March 31.
There was renewed buying interest from various markets early April, and end-users from India and Southeast Asia conducted some major trading activity in the spot market due to their operational plans, the sources said. In the FOB coking coal market, sentiment was largely stable. The increasing demand from India before the traditional monsoon season over July to September was expected to support Australian coking coal prices in the short term.
However, a surge in Covid infections in India and the possibility of lockdowns impacted sentiment as the month came to a close. Accordingly, seaborne prices edged lower in the spot market despite slight tightening of supply.
This story is from the May 2021 edition of Steel Insights.
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This story is from the May 2021 edition of Steel Insights.
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