Spot steam coal prices rise in South Africa & Australia

Spot steam coal prices in South Africa & Australia rose marginally in the week ended on 30th March .

Australia's McCloskey Newcastle 6700 kc GAD Steam Coal FOB price stands at $105.00/MT i.e. up by $ 1.01/MT.

Whereas, South Africa's Richards Bay 6000 kc NAR FOB price stands at $ 103.42 i.e up by $ 0.22/MT.

According to market players, “Buyers are considering to pay a little more for the spot cargoes in Australia following the force majeure declaration by BHP Billiton on Monday. And if the situation doesn't improve soon then prices might go up further”.