In July, Australia’s coking coal exports to key Asian markets fell sharply. Exports to India fell 33% m/m to 2.34 million tonnes, Japan fell 2% m/m to 2.59 million tonnes, China fell 27% m/m to 1.16 million tonnes, and Vietnam fell 61.5% m/m to 0.25 million tonnes. Meanwhile, exports to South Korea rose 23% m/m to 1.59 million tonnes.
Average prices for Australian high-grade coking coal (HCC) in July fell 4% m/m to $260/t CFR India. Despite a temporary spike in prices due to an accident at an Anglo American mine, prices subsequently fell due to mismatches in supply and demand in key importing countries.
Global coking coal prices fell sharply in July. Indian consumers will return to the market by the end of August, and there are sufficient stocks of raw materials in Chinese ports.
