Coal news and updates

Arrival glut eases US steam coal prices in India

Offers of US steam coal by traders appear to have softened amidst increased arrival volumes, industry sources said.

“The leading traders are now offering (as on March 3) the material at about $57-58 per ton after loading on to trucks or rakes, down from $59-60 per ton that was being offered as on February 27,” they said.

A number of new vessels of US steam coal have arrived or are arriving and the increased volumes appear to have impacted prices, they said.

ICMW had reported that 3-4 cape vessels of US steam coal are likely to arrive in March.

Meanwhile, it is learnt that a number of Indian traders are now buying US coal through Console Energy, which was earlier selling to only a few trading companies.

“Console’s exclusive agreement with a trader appears to have ended, but it is not clear,” a source said.