Coal news and updates

Steam coal prices may stay soft in coming days

September 5: The prices of steam coal in international markets are likely to remain soft as user industries like cement and sponge iron are not doing well, an official with a leading coal importer said.

"But it is difficult to forecast the price trend. China has just imposed a tax and its impact would be visible after sometime and that would set the trend," the official said.

Echoing the sentiment, another official said that South African cargo is available in the market as distress sale.

"People are offering the material at a discount of up to $2.00 per ton to API4 index. I heard that on September 3, Ginga Petroleum had concluded a deal of South African cargo at a discount of $2.0 to API4 index. The offering could be either for spot loading or latest laycan or even for cargo that is still in water.  There are many instances of cargo exchanging hands after the vessel has sailed," the official said.