Coal news and updates

‘Coking coal to hover at $94-100/ton for few months’

Premium coking coal prices, which have already reached almost $95 per ton will hover around $94-100 for a few more months because of slightly higher demand levels emanating from India, a source told ICMW, speaking on the sidelines of a seminar on “Survival Strategies & Cost-effective Technologies for Indian Steel Industry,” organised by Steel & Metallurgy ( a steel publication).

“Coking coal also needs demand for steel to grow. Other than India and Vietnam etc there is not much demand for steel,” the source elaborated, adding that however, Australia, Indonesia, the US – the global suppliers of coking coal – have good stocks and there is no dearth of this material as such. There is thus much less pressure on prices too.

However, for coking coal, the export market demand for steel is a very good indicator, which is not growing from India. The share of engineering exports (which is a steel intense sector) has come down. In the global engineering exports pie, India’s share is a dismal 0.1% at present.

“However, I feel, in another one or two years, the exports scenario from India should stabilise,” the source said.