Indonesian coal prices seem more or less stable in this week as miners are still waiting for market clarity owing to continue in irregular inquiries from India and China.
Indonesian low GCV material, mostly traded to India by power utilities, is trading at the same level in current week. Recently, Indonesia 4200 GAR is offered at USD 31-32/MT, CFR Indian ports for Jan’16 shipments.
It is witnessed that Indian demand for high GCV Indonesian material has increased nowdays owing to a fresh tender floated by the domestic user for high GCV coal.
Indonesian high GCV 5000 GAR coal is offered by a trader at USD 44-45/MT, CFR India for Feb’16 deliveries. Meanwhile, 3800 GAR is being offered in the range of USD 25-26/MT, CFR Indian ports.
One West Coast based trader mentioned, “Indonesian offers are firm at the same level this week. There are many inquiries in the market for all type of Indonesian grades, but only few deals have concluded by traders till now.”
He further added, Indonesian miners and traders are likely to hold their cargoes as they are still awaiting for clarity on market direction.
Stock and sell offers at ports
• A Panamax vessel of 4900 GAR is offered at Gangavaram Port at INR 3,500/MT; stock and sell (all duties and clearance included, VAT & CST will be added further). Meanwhile, low GCV 60,000 MT of 4400 GAR coal is offered at INR 3,000/MT at Paradip.
• Indonesian 5000 GAR is available at INR 3,650/MT, loaded on truck at Kandla Port by a trader. Currently, few traders are offering old material comparatively at lower price at few West Coast ports.
• Indonesian 4200 GAR and 3800 GAR is traded at Kandla Port at INR 2,900/MT and INR 2,600/MT (loaded on truck) respectively.
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