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New UserSA coal prices tumble on ample supplies
12 Feb 2014
February 12: Spot prices of South African steam coal fell sharply on February 11 on extremely low enquiry levels from Europe amidst ample supply, industry sources said.
European utilities reported to be having excess stocks and with the resumption of loading at RBCT from Monday, the supply scenario too has improved significantly, leading to softness in South African steam coal prices, they said.
Australian prices too remained soft during the day as sellers outnumbered buyers.
Meanwhile, Indonesian coal prices remained stable amidst reports that the country’s Energy & Mineral Resources Ministry has planned to cut coal output by around 5% through suspensions and cuts in production allocation for mines generating excess coal than initially declared at the beginning of the of year.
The move is reportedly aimed at supporting prices to ensure flow of revenues, sources felt.
Following are the indicative prices of coal in various markets and indicative freight rates on February 11:
|
Description of Coal
|
Specification |
Price/ton (in $ and FOB) as on Feb 11, 2014 |
Price/ton (in $ and FOB) as on Feb 10, 2014 |
Week Ago Price/ton (in $ and FOB) Feb 04, 2014 |
6-month ago Price/ton (in $ and FOB) Aug 12, 2013 |
Year Ago Price/ton (in $ and FOB) Feb 12, 2013 |
|
South African Steam Coal |
6000 Kcal/kg NAR |
79.75 |
83.25 |
81.50 |
72.25 |
85.00 |
|
South African Steam Coal |
5500 Kcal/kg NAR |
66.00 |
66.25 |
65.00 |
65.00 |
NA |
|
Australian Steam Coal |
6300 Kcal/kg GAR |
75.25 |
75.80 |
77.00 |
78.00 |
97.00 |
|
Indonesian Steam Coal |
5900 Kcal/kg GAR |
70.25 |
70.25 |
70.25 |
68.00 |
74.50 |
|
Indonesian Steam Coal |
5000 Kcal/kg GAR |
57.00 |
56.80 |
56.60 |
57.40 |
58.50 |
|
Indonesian Steam Coal |
4200 Kcal/kg GAR |
38.75 |
38.75 |
38.20 |
41.25 |
40.20 |
|
Indonesian Steam Coal |
3800 Kcal/kg GAR |
31.90 |
31.90 |
31.60 |
35.40 |
34.20 |
|
Hard Coking Coal (Australian) |
VM-20.7%, Ash-10.5% |
126.00 |
126.00 |
127.00 |
139.50 |
172.50 |
|
Premium Low Vol |
VM-21.5%, Ash-9.3% |
125.00 |
125.00 |
125.50 |
139.00 |
172.00 |
|
Semi Soft |
88.25 |
87.70 |
88.75 |
97.00 |
125.00 |
|
|
Met Coke (CFR India) |
257.00 |
257.00 |
260.00 |
245.00 |
300.00 |
Freight Rate:
|
Destination
|
As on Feb 11, 2014 (in $/ton) |
As on Feb 10, 2014 (in $/ton) |
Week Ago Feb 04, 2014 (in $/ton) |
6-month Ago Aug 12, 2013 (in $/ton) |
Year Ago Feb 12, 2013 (in $/ton) |
|
South Africa (RBCT) to India (West Coast) |
16.00 |
15.75 |
15.75 |
15.30 |
13.80 |
|
South Africa (RBCT) to India (East Coast) |
16.50 |
16.00 |
16.00 |
15.75 |
14.80 |
|
Indonesia (Kalimantan) to India (West Coast) |
9.70 |
9.70 |
9.00 |
9.60 |
7.00 |
|
Indonesia (Kalimantan) to India (East Coast) |
9.00 |
8.90 |
8.00 |
8.30 |
6.00 |
|
Australia to India |
17.50 |
16.75 |
16.00 |
15.75 |
NA |
Source: Traders & ICMW Data base