Seaborne premium hard coking coal prices have further declined this week after the sharp fall last week, as inventories continued to build due to the continued lack of buying interest from end-users.
In China, there is sufficient supply from sellers, even as mining activities slow down during the winter season.
Moreover, port inventories have continued to increase on more vessel arrivals, adding downward pressure on spot prices for seaborne coking coals.
Latest prices for the Premium HCC grade are assessed at around USD 199/MT FOB Australia, lower by about USD 8.25/MT than the average price of USD 207.25/MT in the week gone by.
Current prices for the 64 Mid Vol HCC grade are assessed at around USD 177.10/MT FOB Australia.
For Indian buyers, the above offers amount to USD 211.25/MT and USD 189.35/MT respectively on CNF India basis.