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New UserGlobal prices ease on Cerrejon settlement reports
17 Mar 2016
As expected, spot prices of standard South African coal as well Australian steam coal softened on March 16 after reports that the union of Cerrejon in Columbia has agreed with the management’s offer on wage settlement, thus removing any threat of shortage in supplies, market sources said.
ICMW had reported on March 16 that with the strike threat no longer existing, coal prices will soften in the coming days.
Meanwhile, Indonesian-origin steam coal as well as coking coal remained unchanged at around their previous levels on low conversion of negotiations into deals, they said.
Speculation over the impending strike at Cerrejon had led to firmness in South African and Australian steam coal prices for the last couple of weeks that had restricted the number of deals.
Fresh deals will now take place once prices stabilise at around mid-February levels, a trader said.
Following are indicative prices of coal in various markets and indicative freight rates (Panamax vessels) on March 16:
|
Description of Coal |
Specification |
Price/ton (in $ and FOB) |
||||
|
As on, |
As on, |
Week ago, |
6-month ago, |
Year ago, |
||
|
March 16, 2016 |
March 15, 2016 |
March 9, 2016 |
September 18, 2015 |
March 18, 2015 |
||
|
South African Steam Coal |
6000 Kcal/kg NAR |
55.70 |
56.70 |
53.70 |
51.00 |
61.20 |
|
South African Steam Coal |
5500 Kcal/kg NAR |
43.90 |
44.25 |
42.10 |
40.40 |
51.90 |
|
Australian Steam Coal |
6300 Kcal/kg GAR |
55.25 |
55.50 |
53.75 |
55.25 |
60.60 |
|
Indonesian Steam Coal |
5900 Kcal/kg GAR |
46.00 |
46.00 |
46.00 |
50.60 |
60.25 |
|
Indonesian Steam Coal |
5000 Kcal/kg GAR |
37.00 |
37.00 |
37.00 |
38.25 |
48.00 |
|
Indonesian Steam Coal |
4200 Kcal/kg GAR |
26.10 |
26.10 |
26.40 |
26.50 |
34.00 |
|
Indonesian Steam Coal |
3800 Kcal/kg GAR |
20.90 |
20.90 |
20.80 |
21.10 |
27.10 |
|
Hard Coking Coal (Australian) |
VM-20.7%, Ash-10.5% |
80.25 |
80.25 |
79.75 |
81.00 |
101.50 |
|
Premium Low Vol |
VM-21.5%, Ash-9.3% |
79.25 |
79.25 |
78.75 |
80.00 |
100.50 |
|
Semi Soft |
|
64.60 |
64.60 |
64.10 |
62.00 |
77.00 |
|
Met Coke (CFR India) |
|
119.00 |
119.00 |
116.00 |
143.00 |
177.50 |
Freight Rate
|
Destination |
(in $/ton) |
||||
|
As on |
As on |
Week ago, |
6-month ago, |
Year ago, |
|
|
March 16, 2016 |
March 15, 2016 |
March 9, 2016 |
September 18, 2015 |
March 18, 2015 |
|
|
South Africa (RBCT) to India (West Coast) |
6.10 |
6.10 |
6.10 |
8.50 |
9.00 |
|
South Africa (RBCT) to India (East Coast) |
6.30 |
6.30 |
6.30 |
8.60 |
9.10 |
|
Indonesia (Kalimantan) to India (West Coast) |
5.00 |
5.00 |
4.60 |
6.50 |
6.25 |
|
Indonesia (Kalimantan) to India (East Coast) |
4.30 |
4.30 |
4.00 |
5.50 |
5.25 |
|
Australia to India |
7.60 |
7.75 |
6.70 |
9.70 |
10.00 |