Australian Govt sees the price of hard coking coal at $ 126 / t in 2020

Despite the significant increase seen in the January-March quarter, the FOB price of Australian premium hard-coking coal (HCC) is projected to decline from an average of $179 / tonne in 2019 to $126 / t this year, impacted by weakened global demand, as estimated by the Australian Department of Industry, Innovation and Science in its quarterly report published on June 29.

Global metallurgical coal prices rose initially this year, backed by strong demand from China in Q1, with the Australian HCC spot price rising from $150 / t to $165 / t by the end of March. In Q1, the COVID-19 pandemic disrupted China’s domestic coal production and forced neighboring Mongolia – the top overseas.