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New UserSA coal prices further up; coking coal jumps sharply
13 Apr 2016
The prices of South African coal (6000 Kcal/kg NAR) jumped sharply on April 12 despite low enquiries from Indian buyers, market sources said.
However, coking coal prices, particularly of higher CSR and low VM, also jumped amidst reports of a possibility of restricted availability in China even as actual deals remained on the lower side with coke and steel makers showing little inclination to create fresh positions, they said.
But a trader in Kolkata feels the current firmness in coking coal prices may not last long as actual demand from Indian steel-makers is yet to pick up on various reasons, including financial crunch.
Taking a cue from the firmness in coking coal prices, a firmness was witnessed in met coke prices as well.
However, an Indian trader said, “Bids are not coming even as I am offering met coke with CSR of 60 at $117 per ton CFR and 62 CSR at $122 per ton.”
According to the trader, “Most of the small steel-makers, particularly those in the eastern region, are passing through a financial crisis and getting limited finance from bankers. Thus, they are not in a position to purchase in higher quantities.”
“They (steel-makers) are buying only to keep their plants running as in majority of cases they are unable to open LCs. Some are even pressuring to open third party LCs,” he added.
Following are indicative prices of coal in various markets and indicative freight rates (Panamax vessels) on April 12:
|
Description of Coal |
Specification |
Price/ton (in $ and FOB) |
||||
|
As on, |
As on, |
Week ago, |
6-month ago, |
Year ago, |
||
|
April 12, 2016 |
April 11, 2016 |
April 5, 2016 |
October 13, 2015 |
April 13, 2015 |
||
|
South African Steam Coal |
6000 Kcal/kg NAR |
53.00 |
51.80 |
53.00 |
50.30 |
59.70 |
|
South African Steam Coal |
5500 Kcal/kg NAR |
44.00 |
44.60 |
45.00 |
39.00 |
51.20 |
|
Australian Steam Coal |
6300 Kcal/kg GAR |
50.90 |
50.75 |
51.40 |
52.40 |
56.70 |
|
Indonesian Steam Coal |
5900 Kcal/kg GAR |
44.40 |
44.50 |
44.60 |
49.10 |
58.30 |
|
Indonesian Steam Coal |
5000 Kcal/kg GAR |
37.50 |
37.50 |
37.50 |
37.80 |
46.10 |
|
Indonesian Steam Coal |
4200 Kcal/kg GAR |
26.25 |
26.25 |
26.25 |
25.80 |
32.80 |
|
Indonesian Steam Coal |
3800 Kcal/kg GAR |
20.50 |
20.50 |
20.50 |
20.70 |
26.40 |
|
Hard Coking Coal (Australian) |
VM-20.7%, Ash-10.5% |
90.00 |
87.25 |
87.00 |
79.60 |
92.75 |
|
Premium Low Vol |
VM-21.5%, Ash-9.3% |
89.00 |
86.25 |
86.00 |
78.60 |
91.75 |
|
Semi Soft |
|
65.75 |
65.75 |
65.60 |
60.60 |
73.20 |
|
Met Coke (CFR India) |
CSR 62 |
128.00 |
123.00 |
125.00 |
133.00 |
172.50 |
Freight rates:
|
Destination |
(in $/ton) |
||||
|
As on |
As on |
Week ago, |
6-month ago, |
Year ago, |
|
|
April 12, 2016 |
April 11, 2016 |
April 5, 2016 |
October 13, 2015 |
April 13, 2015 |
|
|
South Africa (RBCT) to India (West Coast) |
7.00 |
6.30 |
6.30 |
8.50 |
9.00 |
|
South Africa (RBCT) to India (East Coast) |
7.10 |
6.60 |
6.60 |
8.70 |
9.00 |
|
Indonesia (Kalimantan) to India (West Coast) |
5.00 |
4.75 |
4.75 |
6.60 |
6.00 |
|
Indonesia (Kalimantan) to India (East Coast) |
4.30 |
4.10 |
4.10 |
5.40 |
5.00 |
|
Australia to India |
7.00 |
6.90 |
6.90 |
9.90 |
9.50 |
Source: Traders and ICMW database