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New UserSharp downward correction in SA, Australian prices
21 Mar 2016
As expected, South African and Australian steam coal prices corrected downward on March 18 in the aftermath of the withdrawal of the strike by the union of Columbia’s Cerrejon mine, market sources said.
The prices had surged sharply in anticipation that there would be some shortage of coal in case the Cerrejon union went ahead with its strike call. But now that the strike is not happening, the correction is bound to happen, they said.
Though the prices had started surging sharply towards the end of February, the number of deals had not improved as buyers adopted a wait-and-watch position, they said.
Now that prices are again softening, the number of actual deals is expected to go up, particularly from price-sensitive Indian customers, they added.
Following are indicative prices of coal in various markets and indicative freight rates (Panamax vessels) on March 18:
|
Description of Coal |
Specification |
Price/ton (in $ and FOB) |
||||
|
As on, |
As on, |
Week ago, |
6-month ago, |
Year ago, |
||
|
March 18, 2016 |
March 17, 2016 |
March 11, 2016 |
September 19, 2015 |
March 19, 2015 |
||
|
South African Steam Coal |
6000 Kcal/kg NAR |
53.50 |
55.70 |
54.50 |
- |
60.25 |
|
South African Steam Coal |
5500 Kcal/kg NAR |
43.90 |
43.90 |
42.50 |
- |
51.60 |
|
Australian Steam Coal |
6300 Kcal/kg GAR |
54.40 |
55.40 |
53.80 |
- |
59.60 |
|
Indonesian Steam Coal |
5900 Kcal/kg GAR |
46.00 |
46.00 |
46.50 |
- |
60.50 |
|
Indonesian Steam Coal |
5000 Kcal/kg GAR |
37.15 |
37.00 |
37.50 |
- |
48.00 |
|
Indonesian Steam Coal |
4200 Kcal/kg GAR |
26.25 |
26.10 |
26.50 |
- |
34.00 |
|
Indonesian Steam Coal |
3800 Kcal/kg GAR |
20.75 |
20.75 |
20.90 |
- |
27.10 |
|
Hard Coking Coal (Australian) |
VM-20.7%, Ash-10.5% |
80.50 |
80.50 |
80.00 |
- |
101.50 |
|
Premium Low Vol |
VM-21.5%, Ash-9.3% |
79.50 |
79.50 |
79.00 |
- |
100.50 |
|
Semi Soft |
|
65.50 |
65.00 |
64.50 |
- |
76.60 |
|
Met Coke (CFR India) |
CSR 62 |
119.50 |
119.00 |
116.00 |
- |
177.50 |
Freight rates
|
Destination |
(in $/ton) |
||||
|
As on |
As on |
Week ago, |
6-month ago, |
Year ago, |
|
|
March 18, 2016 |
March 17, 2016 |
March 11, 2016 |
September 19, 2015 |
March 19, 2015 |
|
|
South Africa (RBCT) to India (West Coast) |
6.10 |
6.10 |
6.25 |
- |
9.00 |
|
South Africa (RBCT) to India (East Coast) |
6.30 |
6.30 |
6.50 |
- |
9.10 |
|
Indonesia (Kalimantan) to India (West Coast) |
5.00 |
5.00 |
4.70 |
- |
6.25 |
|
Indonesia (Kalimantan) to India (East Coast) |
4.20 |
4.20 |
4.10 |
- |
5.25 |
|
Australia to India |
6.75 |
6.75 |
6.90 |
- |
10.00 |
Source: Traders and ICMW database