Coking coal shipments from Australia climbed to their highest levels in a year in June, as producers ramped up output to secure targets ahead of the end of the July 2022-June 2023 fiscal year.
Australian coking coal exports were at 14.7mn t in June, up by 3.4pc on the month and steady compared with a year earlier, according to trade data published by the Australian Bureau of Statistics (ABS) and supplied by GTT. The country exported 10.4mn t of hard coking coal, rising by 6.6pc on the month and by 7.9pc from a year earlier.
Queensland coal shipments hit a 3½-year high in June, bolstered by increased throughput from Dalrymple Bay Coal Terminal and Gladstone ports.
India held its spot as the top buyer of Australian hard coking coal in June, with a steady 34pc share of total exports. Shipments to India were at the highest since October 2021 because of firm pre-monsoon demand. Exports to Indonesia increased by over twofold on the month to 472,971t and rose by 27pc against the previous year, owing to growing demand as Indonesian coke operations picked up.
The Argus premium low-volatile hard coking coal price averaged $230.18/t fob Australia in June, marginally down from May's average and declining by 39pc on the year.
The Argus-assessed Australian premium low-volatile hard coking coal price was $246.30/t fob Australia on 3 August.
The average export price for Australian hard coking coal was $186.98/t in June, down by 24pc from May and falling 56pc against the previous year. Prices were based on an Australian-US dollar exchange rate of 0.6708 used by the ABS for June, increasing by 0.9pc from May's rate.
Semi-soft and pulverised coal injection (PCI) grade shipments fell by over 12pc on the year to 4.35mn t because of lower exports to South Korea, Taiwan and India. The average export price for Australian semi-soft coking coal was $208.21/t in June, down by 44pc on the year and by 15pc from a month earlier.
The Argus-assessed PCI price averaged $192.55/t in June, declining by 47pc on the year and by 4.4pc from a month earlier. The Argus low-volatile PCI price stood at $173.25/t fob Australia on 3 August. argusmedia
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