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New UserS African, Australian offers spurt in restricted deals
15 Mar 2016
Amidst speculation over the strike at Cerrejon, offers for South African and Australian steam coal jumped sharply on March 14 but, overall, deals were limited by a tendency among buyers to delay purchases, market sources said.
Speculations over the imminent strike continued to drive the market even as reports suggested that the company’s union is likely to accept the management’s sweetened deal over a pay hike, they added.
Meanwhile, coking coal prices rallied sharply in line with the spurt in iron ore prices and touched the levels prevailing in September 2015.
Following are indicative prices of coal in various markets and indicative freight rates (Panamax vessels) on March 14:
|
Description of Coal |
Specification |
Price/ton (in $ and FOB) |
||||
|
As on, |
As on, |
Week ago, |
6-month ago, |
Year ago, |
||
|
March 14, 2016 |
March 11, 2016 |
March 7, 2016 |
September 16, 2015 |
March 16, 2015 |
||
|
South African Steam Coal |
6000 Kcal/kg NAR |
57.00 |
54.50 |
53.80 |
51.00 |
61.80 |
|
South African Steam Coal |
5500 Kcal/kg NAR |
44.50 |
42.50 |
42.00 |
41.00 |
52.60 |
|
Australian Steam Coal |
6300 Kcal/kg GAR |
54.50 |
53.80 |
53.80 |
57.00 |
63.20 |
|
Indonesian Steam Coal |
5900 Kcal/kg GAR |
46.00 |
46.50 |
45.75 |
50.75 |
60.00 |
|
Indonesian Steam Coal |
5000 Kcal/kg GAR |
37.00 |
37.50 |
36.80 |
38.25 |
48.00 |
|
Indonesian Steam Coal |
4200 Kcal/kg GAR |
26.15 |
26.50 |
26.40 |
26.65 |
34.00 |
|
Indonesian Steam Coal |
3800 Kcal/kg GAR |
20.90 |
20.90 |
20.80 |
21.50 |
27.10 |
|
Hard Coking Coal (Australian) |
VM-20.7%, Ash-10.5% |
80.00 |
80.00 |
79.75 |
82.00 |
102.50 |
|
Premium Low Vol |
VM-21.5%, Ash-9.3% |
79.00 |
79.00 |
78.75 |
81.00 |
101.50 |
|
Semi Soft |
|
64.25 |
64.50 |
64.10 |
62.50 |
76.75 |
|
Met Coke (CFR India) |
|
118.00 |
116.00 |
116.00 |
143.00 |
177.50 |
Freight rates
|
Destination |
(in $/ton) |
||||
|
As on |
As on |
Week ago, |
6-month ago, |
Year ago, |
|
|
March 14, 2016 |
March 11, 2016 |
March 7, 2016 |
September 16, 2015 |
March 16, 2015 |
|
|
South Africa (RBCT) to India (West Coast) |
6.10 |
6.25 |
6.10 |
8.50 |
9.00 |
|
South Africa (RBCT) to India (East Coast) |
6.30 |
6.50 |
6.30 |
8.60 |
9.10 |
|
Indonesia (Kalimantan) to India (West Coast) |
5.00 |
4.70 |
4.60 |
6.15 |
6.25 |
|
Indonesia (Kalimantan) to India (East Coast) |
4.30 |
4.10 |
4.00 |
5.15 |
5.25 |
|
Australia to India |
7.50 |
6.90 |
6.70 |
9.20 |
10.20 |
Source: Traders and ICMW database