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New UserSA coal prices ease as Cerrejon strike is averted
16 Mar 2016
Spot prices of standard South African steam coal (6,000 Kcal/kg NAR) softened on March 15 after unionised workers at Colombia’s largest coal mining firm, Cerrejon, cancelled plans to go for a strike, market sources said.
However, Australian steam coal prices moved up as the report on the strike withdrawal came after trading hours, they said.
Speculation over the strike at Cerrejon had impacted the price movement for the last couple of weeks and it is now expected that there will be marked softness in prices of both South African and Australian steam coal in the coming days, an official from a trading company said.
Meanwhile, coking coal prices inched up further amidst speculative activity before the contract signing for Q2 (April-June), they said.
Experts believe that South African origin steam coal prices may drop significantly in the coming days and there would be moderate rise in actual deals after a slight decline in the number of deals in the past few days following the rise in prices.
Following are indicative prices of coal in various markets and indicative freight rates (Panamax vessels) on March 15:
|
Description of Coal |
Specification |
Price/ton (in $ and FOB) |
||||
|
As on, |
As on, |
Week ago, |
6-month ago, |
Year ago, |
||
|
March 15, 2016 |
March 14, 2016 |
March 8, 2016 |
September 17, 2015 |
March 17, 2015 |
||
|
South African Steam Coal |
6000 Kcal/kg NAR |
56.70 |
57.00 |
53.80 |
51.00 |
61.20 |
|
South African Steam Coal |
5500 Kcal/kg NAR |
44.25 |
44.50 |
42.10 |
40.60 |
52.00 |
|
Australian Steam Coal |
6300 Kcal/kg GAR |
55.50 |
54.50 |
53.90 |
56.60 |
61.75 |
|
Indonesian Steam Coal |
5900 Kcal/kg GAR |
46.00 |
46.00 |
45.80 |
50.75 |
60.00 |
|
Indonesian Steam Coal |
5000 Kcal/kg GAR |
37.00 |
37.00 |
36.80 |
38.25 |
48.00 |
|
Indonesian Steam Coal |
4200 Kcal/kg GAR |
26.10 |
26.15 |
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% |
80.25 |
80.00 |
79.75 |
82.00 |
102.00 |
|
Premium Low Vol |
VM-21.5%, Ash-9.3% |
79.25 |
79.00 |
78.75 |
81.00 |
101.00 |
|
Semi Soft |
|
64.60 |
64.25 |
64.10 |
62.50 |
76.75 |
|
Met Coke (CFR India) |
|
119.00 |
118.00 |
116.00 |
143.00 |
177.50 |
Freight Rate
|
Destination |
(in $/ton) |
||||
|
As on |
As on |
Week ago, |
6-month ago, |
Year ago, |
|
|
March 15, 2016 |
March 14, 2016 |
March 8, 2016 |
September 17, 2015 |
March 17, 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 |
6.15 |
6.25 |
|
Indonesia (Kalimantan) to India (East Coast) |
4.30 |
4.30 |
4.00 |
5.15 |
5.25 |
|
Australia to India |
7.75 |
7.50 |
6.70 |
9.20 |
10.00 |
Source: Traders and ICMW database