Indonesian Thermal coal prices again reached to its all time low level in Oct’15 with a downfall of 1-2% against Sept’15.
In current scenario, Indonesian Thermal coal market seems to be highly suffered with no underlying demand and devaluating Rupiah. Oct’15 has again recorded at an all time low due to a dwindling demand in Asia coupled with unseen impact of small production cut in Indonesia.
Offers of Indonesian 4200 GAR coal have fallen at USD 34-34.5/MT, CFR East Coast India in Oct’15. While, November shipments are reflecting a marginal rise of USD 1-1.5/MT in offers owing to lack of supply for few demanded Indonesian grades.
Currently, Indonesian low GCV 3800 GAR is being offered at USD 29-30/MT, CFR East Coast ports for early Nov’15 shipments.
At present, Indonesian miners have intended to reduce operations as acting to make a balance between supply and demand gaps worldwide.
Meanwhile, offers are falling down every week on the grounds of surge in India’s production and Rupee devaluation. Moreover, further downside is expected till the month end.
Stock &Sale offers at Ports
• Indonesian 4200 GAR about 25,000 MT is being offered at INR 2900/MT at Vizag port (VAT & CST will be calculated further).
• Same grade ready to sell material is offered at Krishnapatnam port at INR 3,200/MT (all duties and clearance included).
• Indonesian 5000 GAR coal is being offered in stock & sale at INR 3,650-3,700/MT Krishnapatnam port.
Indonesian Coal Production
Indonesia’s coal production declined about 15-16% to 263 MnT in the last eight months of this year (Jan’15-Aug’15) which was produced about 311 MnT in the same period last year. Indonesian coal miners cut production amid low global coal prices.
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