Monday, May 23,
South Africa’s Richards Bay Coal Terminal, the continent’s largest export facility for the fuel, fell to the lowest in six weeks as buyers opted for Indonesian supplies.*
Prices fell 1 percent to $119.74 a metric ton on average last week.According to Petersfield, England-based researcher said that the prices are lowest since the week ended March 4. They advanced 36 percent in the last 12 months.
More people are buying directly the Indonesian material said experts , there is not much demand for the high grades at Richards Bay.
Indonesia is the biggest exporter of coal burned to make power. The country cut its reference price for sales of the fuel in May to the lowest since January, tracking a decline in the regional market, the energy ministry said on May 9. The price of coal with a gross energy value of 6,322 kilocalories a kilogram was cut for a third straight month to $117.61 a ton, free on board, from $122.02 in April.
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