Heat was turned on the coking coal market with more miners made hey on production. Australian miner coming out of protracted labor unrest made good for the production lost.

Silhouetted in the fading light of POSCO-Anglo American deal at USD 225 per tonne for Q3, spot prices nosedived during the last 1 week.

It is learnt that current offer levels to China and India for Hard Coking coal from Australian giant was USD 195 per tonne FOB. Remarkably this is significant climb down form the levels of USD 205 per tonne till one week ago.

With Uncle Sam still on the prowl and demand in China likely to dip owing to production cut backs and maintenance by the mills to counter plummeting steel levels, market is expected to remain bearish at least till the end of Q3 .

Source - Strategic Research Institute

(www.coalguru.com)