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New UserSpot coal prices largely flat on ample supplies
01 Mar 2016
Notwithstanding the uncertainty over a strike call at Colombia’s Cerrejon, spot prices of seaborne steam coal continued to remain weak on February 29 as ample supply of the material and lower gas prices impacted sentiment, market sources said.
Prices of standard grade South African coal eased after a slight increase late last week. Also, prices of Australian steam coal closed slightly lower compared to the previous closing.
Meanwhile, natural gas prices in the US dropped to a 17-year low in February as warmer climate restricted its demand this winter, reports said. The sources said that low gas and oil prices would add to the pressure on coal prices, going forward.
In India, the lukewarm response to the Union Budget reflected the subdued mood in the market, sources said, adding that not much buying interest is seen for the coming weeks.
Following are indicative prices of coal in various markets and indicative freight rates (Panamax vessels) on February 29:
|
Description of Coal |
Specification |
Price/ton (in $ and FOB) |
||||
|
As on, |
As on, |
Week ago, |
6-month ago, |
Year ago, |
||
|
February 29, 2016 |
February 26, 2016 |
February 22, 2016 |
August 28, 2015 |
February 28, 2015 |
||
|
South African Steam Coal |
6000 Kcal/kg NAR |
54.40 |
54.60 |
53.25 |
52.70 |
- |
|
South African Steam Coal |
5500 Kcal/kg NAR |
41.40 |
41.40 |
41.00 |
42.40 |
- |
|
Australian Steam Coal |
6300 Kcal/kg GAR |
53.40 |
53.50 |
52.50 |
58.35 |
- |
|
Indonesian Steam Coal |
5900 Kcal/kg GAR |
46.10 |
46.10 |
46.20 |
51.90 |
- |
|
Indonesian Steam Coal |
5000 Kcal/kg GAR |
37.00 |
37.00 |
37.10 |
39.10 |
- |
|
Indonesian Steam Coal |
4200 Kcal/kg GAR |
26.20 |
26.20 |
26.10 |
27.30 |
- |
|
Indonesian Steam Coal |
3800 Kcal/kg GAR |
20.50 |
20.50 |
20.30 |
22.20 |
- |
|
Hard Coking Coal (Australian) |
VM-20.7%, Ash-10.5% |
76.75 |
76.75 |
76.50 |
83.25 |
- |
|
Premium Low Vol |
VM-21.5%, Ash-9.3% |
75.75 |
75.75 |
75.50 |
82.25 |
- |
|
Semi Soft |
|
63.80 |
63.80 |
62.75 |
63.40 |
- |
|
Met Coke (CFR India) |
|
114.00 |
114.00 |
115.00 |
143.00 |
- |
Freight rates:
|
Destination |
(in $/ton) |
||||
|
As on |
As on |
Week ago, |
6-month ago, |
Year ago, |
|
|
February 26, 2016 |
February 26, 2016 |
February 22, 2016 |
August 28, 2015 |
February 28, 2015 |
|
|
South Africa (RBCT) to India (West Coast) |
5.60 |
5.60 |
5.50 |
9.25 |
- |
|
South Africa (RBCT) to India (East Coast) |
6.00 |
6.00 |
6.00 |
9.40 |
- |
|
Indonesia (Kalimantan) to India (West Coast) |
4.30 |
4.30 |
4.50 |
6.50 |
- |
|
Indonesia (Kalimantan) to India (East Coast) |
3.65 |
3.65 |
3.90 |
5.25 |
- |
|
Australia to India |
6.00 |
6.00 |
6.25 |
9.75 |
- |
Sources: Traders and ICMW database