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New UserFirm trend in SA coal continues, others stay weak
18 Feb 2016
After a firm trend on Wednesday, spot prices of standard South African (6,300 Kcal/kg NAR) coal inched up even as other-origin coals remained unchanged at their previous levels, market sources said.
Coking coal prices moved around their previous levels with no real demand for spot purchases, they said.
Big companies are procuring coking coal through quarterly contracts and there is hardly any enquiry for spot purchases because most of the steel-makers are facing liquidity crunch in India, they said.
In fact, all the steel-makers in India starting from Tata Steel to SAIL to JSW and smaller ones like Adhunik, Jayaswal Neco, Shatbhavana Ispat, among others, have reported huge losses during the third quarter of 2015-16.
The situation is unlikely to change in the coming days, as far as India is concerned, they said.
Whatever be the quoted prices, traders are not hesitating to lower offers for firm bids for coking coal as well as metallurgical coke, said an official from a trading company.
Following are the indicative prices of coal in various markets and indicative freight rates (Panamax vessels) on February 17:
|
Description of Coal |
Specification |
Price/ton (in $ and FOB) |
||||
|
As on, |
As on, |
Week ago, |
6-month ago, |
Year ago, |
||
|
February 17, 2016 |
February 16, 2016 |
February 10, 2016 |
August 18, 2015 |
February 18, 2015 |
||
|
South African Steam Coal |
6000 Kcal/kg NAR |
52.00 |
51.70 |
51.10 |
53.50 |
65.70 |
|
South African Steam Coal |
5500 Kcal/kg NAR |
39.25 |
39.25 |
39.00 |
44.50 |
55.00 |
|
Australian Steam Coal |
6300 Kcal/kg GAR |
51.00 |
51.00 |
50.45 |
58.00 |
61.60 |
|
Indonesian Steam Coal |
5900 Kcal/kg GAR |
47.00 |
47.00 |
46.00 |
52.80 |
58.40 |
|
Indonesian Steam Coal |
5000 Kcal/kg GAR |
37.30 |
37.25 |
36.40 |
40.10 |
47.40 |
|
Indonesian Steam Coal |
4200 Kcal/kg GAR |
26.10 |
26.10 |
26.10 |
27.80 |
34.40 |
|
Indonesian Steam Coal |
3800 Kcal/kg GAR |
20.25 |
20.25 |
20.10 |
23.10 |
27.40 |
|
Hard Coking Coal (Australian) |
VM-20.7%, Ash-10.5% |
76.50 |
76.50 |
76.00 |
84.50 |
104.00 |
|
Premium Low Vol |
VM-21.5%, Ash-9.3% |
75.50 |
75.50 |
75.00 |
83.50 |
103.00 |
|
Semi Soft |
|
62.15 |
62.25 |
62.00 |
65.00 |
79.70 |
|
Met Coke (CFR India) |
|
118.00 |
120.00 |
120.00 |
147.00 |
182.50 |
Freight rates:
|
Destination |
(in $/ton) |
||||
|
As on |
As on |
Week ago, |
6-month ago, |
Year ago, |
|
|
February 17, 2016 |
February 16, 2016 |
February 10, 2016 |
August 18, 2015 |
February 18, 2015 |
|
|
South Africa (RBCT) to India (West Coast) |
4.75 |
4.75 |
5.45 |
10.10 |
9.00 |
|
South Africa (RBCT) to India (East Coast) |
5.00 |
5.00 |
5.60 |
10.20 |
9.30 |
|
Indonesia (Kalimantan) to India (West Coast) |
4.00 |
4.00 |
4.15 |
6.60 |
6.25 |
|
Indonesia (Kalimantan) to India (East Coast) |
3.40 |
3.40 |
3.40 |
5.40 |
4.75 |
|
Australia to India |
6.25 |
6.50 |
6.40 |
9.90 |
9.50 |
Sources: Traders and ICMW database