Drop in Global Metallurgical Coal Prices Following Demand Slump in China and India
The price of premium hard coking coal (FOB Australia) stood at $238.9 per ton on July 10 (down 1.3% compared to June 12). Spot prices for coking coal in China (EXW, Anze) reached $297.2 per ton on the same date, representing a 1.7% increase compared to June 12.
Regarding coking coal in China, Mysteel has forecast that prices will decline in July following a significant rise in June due to supply disruptions. The market remains under pressure from low steel demand and declining profitability at steel mills.
The price of this product in Australia, which had risen at the beginning of the month due to limited supply of prime low-volatile (PLV) coal, declined at the end of last week following improved supply and low market liquidity.
India’s import market remained stagnant, despite buyers’ interest in purchasing lower-priced cargoes. Currently, the market is maintaining a cautious stance, awaiting government decisions regarding the extension of anti-dumping duties on imported coke.