India: Coal defies trend, but steel and raw material prices fall in October. Nov appears lethargic.
Google
India
04-11-2023
Share
Australian Premium HCC coking coal: In October 2023, the average price of Australian Premium HCC coking coal increased by $50/tonne (t) or 16% month-over-month to $370/tonne (t) CFR India, up from $320/t in September.
High transaction volumes are the cause of the price increase. Additionally, November loading cargoes were hard to come by in the market due to a shortage of Australian supplies. The restricted Russian supply also contributed to the rising pricing.
Indexed port-side ex-Gangavaram pricing for South African RB3 (4800 NAR) rose 9% from INR 8,820/t in September to INR 9,580/t in October. In response, CNF Gangavaram, the same grade of thermal coal, increased 11% to $114/t last month from $103/t in September. Due to difficulties with logistics, prices increased.