Steam coal prices lose steam in global markets
03 Mar 2016
Steam coal prices continued to ease in the international markets on March 2 amid ample supply and despite expectations of an improvement later this year.
While the market awaited an update on the proposed strike at Cerrejon, Glencore came out with an announcement that it was expecting thermal coal prices to improve in 2016.
Meanwhile, coking coal offers rose slightly during the day. Also, the freight rates showed marginal gains.
Following are indicative prices of coal in various markets and indicative freight rates (Panamax vessels) on March 2:
Description of Coal |
Specification |
Price/ton (in $ and FOB) |
||||
As on, |
As on, |
Week ago, |
6-month ago, |
Year ago, |
||
March 2, 2016 |
March 1, 2016 |
February 24, 2016 |
September 4, 2015 |
March 2, 2015 |
||
South African Steam Coal |
6000 Kcal/kg NAR |
53.40 |
54.40 |
53.50 |
52.30 |
65.20 |
South African Steam Coal |
5500 Kcal/kg NAR |
41.50 |
41.50 |
41.40 |
42.00 |
55.50 |
Australian Steam Coal |
6300 Kcal/kg GAR |
53.00 |
53.40 |
52.75 |
58.50 |
64.50 |
Indonesian Steam Coal |
5900 Kcal/kg GAR |
45.90 |
46.10 |
46.10 |
51.70 |
59.20 |
Indonesian Steam Coal |
5000 Kcal/kg GAR |
37.00 |
37.00 |
37.00 |
38.80 |
47.70 |
Indonesian Steam Coal |
4200 Kcal/kg GAR |
26.20 |
26.20 |
26.10 |
27.10 |
34.20 |
Indonesian Steam Coal |
3800 Kcal/kg GAR |
20.70 |
20.50 |
20.50 |
22.10 |
27.30 |
Hard Coking Coal (Australian) |
VM-20.7%, Ash-10.5% |
77.25 |
76.75 |
76.25 |
82.00 |
104.00 |
Premium Low Vol |
VM-21.5%, Ash-9.3% |
76.25 |
75.75 |
75.25 |
81.00 |
103.00 |
Semi Soft |
|
63.80 |
63.80 |
63.50 |
63.00 |
77.60 |
Met Coke (CFR India) |
|
117.00 |
114.00 |
113.00 |
143.00 |
185.00 |
Freight rates:
Destination |
(in $/ton) |
||||
As on |
As on |
Week ago, |
6-month ago, |
Year ago, |
|
March 2, 2016 |
March 1, 2016 |
February 24, 2016 |
September 4, 2015 |
March 2, 2015 |
|
South Africa (RBCT) to India (West Coast) |
5.75 |
5.60 |
5.50 |
8.60 |
9.50 |
South Africa (RBCT) to India (East Coast) |
6.10 |
6.00 |
6.00 |
880.00 |
10.00 |
Indonesia (Kalimantan) to India (West Coast) |
4.35 |
4.30 |
4.50 |
6.60 |
6.50 |
Indonesia (Kalimantan) to India (East Coast) |
3.70 |
3.65 |
3.90 |
5.40 |
5.25 |
Australia to India |
6.40 |
6.00 |
6.25 |
9.90 |
10.00 |
Sources: Traders and ICMW database