Coal: Traders are expecting Market to slip again

Improved demand of coal in Europe and Middle east have pulled up South African coal prices which rose to around USD2-3/MT and South African coal RB 1 (6000 Kcal/kg NAR) has traded at USD73-74/MT, Australian thermal coal market has also followed the market and gone up by USD2-3/MT and 6000 Kcal/kg NAR of Australian coal has been traded at USD79-81/MT. Market experts are expecting market to slip again. However, Indonesian coal supplier are keeping their prices stable as not much movement has been seen from past few weeks and Indonesian 5800 Kcal/Kg GAR is being traded at USD70/MT.

In view of continuously dropping Indian rupees in International market Coal traders of India are silent and end user is buying only as per their requirement only and do not prefer for the long term contracts.

Market Trade:

It has been noted that one of the Indian buyer has concluded a high seas deal on Tuesday of Indonesian 4200 Kcal/kg GAR Non-coking coal at USD51/MT CFR in Panamax vessel will discharge at west coast of India.

In east coast of Indian port “Krishnapatnam port”, a trader has brought a Chile origin low moisture non-coking coal of 4200 Kcal/kg GAR in a cape size vessel which is waiting to discharge, it has been noted that cargo is on offer at USD56/MT.

A Indonesia based miner has traded a 3400 Kcal/kg GAR coal at USD 31/MT. Same grade material has been traded at India at USD40-42/MT.