South African 5500 NAR coal is being offered by Indian traders in the range of 47-49/MT at different Indian ports for Nov’15 deliveries.
India’s most preferred grade, South African 5500 NAR coal offers are more or less constant at USD 47-48/MT, CFR this week. The material is offered at Kandla and Mangalore ports in capsize vessel for November-mid deliveries.
Few East Coast based traders have also offered the same grade material in the range of USD 48-49.5/MT, CFR at Vizag and Krishnapatnam ports. Meanwhile, high GCV South African RB1 (6000 NAR) coal is offered at Kandla port at USD 57/MT in capesize for Nov’15 deliveries.
Constant fall in global coal demand owing to industrial slowdown has driven miners and traders to deduct their offers regularly. In current scenario, international market is not reflecting any hope towards price recovery atleast in coming 6 months. Despite this, price recovery will need more mines closer to control excess production, which may help to narrow down the gap between demand and supply globally.
[su_quote]West Coast based trader mentioned, We are offering South African 5500 NAR coal ready to sell material at INR 4,000/MT at Mangalore Port and USD 48/MT, CIF for Nov’15 deliveries. Also, coal market is depressed and any recovery is not expected atleast in coming 6 months.[/su_quote]
About 20,000 MT ready to sell material of same grade is offered in the range of INR 4,200-4,250/MT, Vizag Port. While, Krishnapatnam Port is offering stock and sell material at INR 4,300-4,350/MT (VAT & CST excluded).
However, a West Coast based trader is offering about 55,000 MT Indonesian 4200 GAR coal at USD 33/MT for Nov’15 first week deliveries at Kandla port. The same grade material is being offered in stock and sell at INR 2,700-2,750/MT by the company. While, Indonesian 3800 GAR offers are assessed at INR 2,400/MT (all duties and clearance included) at Kandla port.
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