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New UserSA coal prices soften after 12-day rally
30 Oct 2013
October 30: Putting a break on nearly a fortnight's rally, South African coal prices softened marginally on October 29 in the absence of enquiries at the current high levels, industry sources said.
Australian steam coal prices, however, firmed up by $0.50 per ton on good enquiries from Chinese companies, they said.
Select prices of better grades of Indonesian coal too softened after remaining firm during the past fortnight, they said.
The softness in South African coal prices, by $0.60 per ton, was along expected lines as deals did not materialise over the past few days when prices started firming up, they added.
"South African coal prices had firmed up too much in recent days and, because of this, actual transactions did not happen. Realising this, miners and traders appear to have softened their offer prices and it is expected that there would be further softness in the coming days," an official with a steel company, which also buys imported steam coal for its captive power plant, said.
The continued softness in freight rates over the past few days is also likely to encourage Indian companies to enter into fresh deals.
Following are the indicative prices of coal in various markets and indicative freight rates on October 29:
|
Description of Coal |
Specification |
Price/ton (in $ and FOB) as on Oct 29, 2013 |
Price/ton (in $ and FOB) as on Oct 28, 2013 |
Week Ago Price/ton (in $ and FOB) Oct 22, 2013 |
6-month ago Price/ton (in $ and FOB) Apr 30, 2013 |
Year Ago Price/ton (in $ and FOB) Oct 30, 2012 |
|
South African Steam Coal |
6000 Kcal/kg NAR |
85.90 |
86.50 |
82.75 |
80.25 |
77.75 |
|
South African Steam Coal |
5500 Kcal/kg NAR |
64.60 |
64.60 |
63.25 |
NA |
NA |
|
Australian Steam Coal |
6300 Kcal/kg GAR |
82.50 |
82.00 |
80.00 |
85.80 |
80.50 |
|
Indonesian Steam Coal |
5900 Kcal/kg GAR |
66.50 |
66.80 |
66.80 |
71.75 |
70.45 |
|
Indonesian Steam Coal |
5000 Kcal/kg GAR |
53.75 |
54.20 |
54.20 |
60.25 |
54.50 |
|
Indonesian Steam Coal |
4200 Kcal/kg GAR |
38.60 |
38.60 |
38.75 |
42.50 |
37.90 |
|
Indonesian Steam Coal |
3800 Kcal/kg GAR |
33.00 |
33.00 |
33.10 |
36.50 |
33.10 |
|
Hard Coking Coal (Australian) |
VM-20.7%, Ash-10.5% |
147.50 |
148.00 |
146.50 |
149.00 |
149.00 |
|
Premium Low Vol |
VM-21.5%, Ash-9.3% |
146.00 |
146.00 |
145.00 |
147.50 |
149.00 |
|
Semi Soft |
|
97.00 |
97.50 |
95.50 |
103.00 |
100.00 |
|
Met Coke (CFR India) |
|
272.00 |
272.00 |
274.00 |
272.00 |
316.00 |
Freight Rate:
|
Destination |
As on Oct 29, 2013 (in $/ton) |
As on Oct 28, 2013 (in $/ton) |
Week Ago Oct 22, 2013 (in $/ton) |
6-month Ago Apr 30, 2013 (in $/ton) |
Year Ago Oct 30, 2012 (in $/ton) |
|
South Africa (RBCT) to India (West Coast) |
17.80 |
18.00 |
18.80 |
15.50 |
13.90 |
|
South Africa (RBCT) to India (East Coast) |
18.30 |
18.50 |
19.50 |
16.00 |
15.20 |
|
Indonesia (Kalimantan) to India (West Coast) |
13.00 |
13.25 |
13.80 |
10.00 |
9.70 |
|
Indonesia (Kalimantan) to India (East Coast) |
11.50 |
11.75 |
12.30 |
8.80 |
8.40 |
|
Australia to India |
18.50 |
20.00 |
20.00 |
17.00 |
NA |
Source: ICMW (Traders)