Due to weak supply and year-on-year increase in demand, the contract price of high-quality hard coking coal in Australia in the third quarter of 2021 increased month on month and year-on-year.
In the case of limited export volume, the contract price of metallurgical coal in September increased by 74% month on month to USD 203.45USD/Ton FOB Queensland. Although the trading activities in the Asian market were affected by the covid-19 epidemic, the commodity prices have increased due to the limited number of suppliers and the buyers having to accept the new level.
On a year-on-year basis, the contract price increased by 85%, partly due to increased commercial activities. In the third quarter of 2020, the overseas demand for Australian coking coal was weak. The market was deserted because Chinese buyers almost ran out of their import quotas before the informal ban on the import of Australian coal.
In addition, Indian buyers are not interested in the material due to sufficient domestic inventory. Exporters have transferred some raw materials from China to other countries such as Southeast Asia and the European Union this year, while India's demand has clearly recovered with the rise of steel production.
The contract price of coking coal from July to August is based on the current average export price recorded from June to August.
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Post time: Sep-06-2021