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SteelMint has assessed that during last few weeks International coal prices rose significantly which is indicating towards rising demand in the market.
It is noted during almost 12 months, the price of thermal coal in China has posted its first weekly gain, hitting USD 87.06 a tonne.
As the Chinese power producers are re-stocking inventories ahead of winter season, which led demand to increase and same supported the price as well. China's coal production dropped by 2.3% in August Y-o-Y to 300 MnT, as many miners cut their production over lower market prices.
National Energy Administration, China reported this week that China's power consumption in September rose 10.4% Y-o-Y to 444.8 billion kilowatt hours (kWh) , which has supported demand and so prices scaled up. Also major six Chinese power plants average coal stocks dropped to 19.7 days as of 11 October which was down by 1.58 days from previous week, as per, China Coal Association.
Over the current moderate demand from market and delivery of coal which was booked during lowest prices in South Africa has led to jump South African coal prices which is currently trading USD 80-81/MT FOB RBCT for 6000 NAR coal. However good demand from Japan and China, Australian steam coal price has increased by USD 1-2/MT from last week to USD 82-83/MT.
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