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International coal prices weaken further

29 Aug 2013

August 29: A lukewarm demand from major buyers, particularly India where the rupee fell to a record level of 68 to the dollar, firmed up freight rates amidst ample coal stocks, which led to further fall in international coal prices on August 28, industry sources said.

Indian buyers have decided to wait and watch as the rupee tumbles and is still showing no signs of firmness, they added.

Amidst absence of Indian buyers and a slowdown in buying from China, prices of South African and Australian coal fell sharply even as Indonesian coal prices continue to maintain a comparatively stable trend, the sources said.

Coking coal prices, on the other hand, continued to firm up as Chinese steel makers sustained their buying, but sources claimed, "More than Chinese steel makers buying, coking coal prices are up because miners are quoting higher prices in an attempt to firm up quarterly contract prices, the negotiations for which will start next month."

Following are the indicative prices of coal in various markets and indicative freight rates on August 28:


Description of Coal

Specification

Price/ton (in $ and FOB) as on Aug 28, 2013

Price/ton (in $ and FOB) as on Aug 27, 2013

Week Ago Price/ton (in $ and FOB) Aug 21, 2013

6-month ago Price/ton (in $ and FOB) Feb 28, 2013

Year Ago Price/ton (in $ and FOB) Aug 29, 2012

South African Steam Coal

6000 Kcal/kg NAR

72.25

73.50

74.00

84.75

86.00

South African Steam Coal

5500 Kcal/kg NAR

63.00

64.10

64.50

NA

NA

Australian Steam Coal

6300 Kcal/kg GAR

76.40

77.25

77.75

93.50

89.00

Indonesian Steam Coal

5900 Kcal/kg GAR

69.00

68.75

69.00

76.00

70.60

Indonesian Steam Coal

5000 Kcal/kg GAR

57.00

57.00

57.00

60.10

55.00

Indonesian Steam Coal

4200 Kcal/kg GAR

41.00

41.00

41.35

41.20

38.00

Indonesian Steam Coal

3800 Kcal/kg GAR

35.50

35.50

35.60

35.10

33.00

Hard Coking Coal (Australian)

VM-20.7%, Ash-10.5%

148.00

146.00

146.00

168.00

159.00

Premium Low Vol

VM-21.5%, Ash-9.3%

147.00

144.70

144.50

168.50

160.00

Semi Soft

 

101.00

97.20

97.00

119.00

100.00

Met Coke (CFR India)

 

257.00

257.00

253.00

298.00

338.00


Freight Rate:


Destination

As on Aug 28, 2013 (in $/ton)

As on Aug 27, 2013 (in $/ton)

Week Ago Aug 21, 2013 (in $/ton)

6-month Ago Feb 28, 2013 (in $/ton)

Year Ago Aug 29, 2012 (in $/ton)

South Africa (RBCT) to India (West Coast)

14.70

14.50

14.25

15.10

15.00

South Africa (RBCT) to India (East Coast)

15.25

15.00

14.75

16.10

16.50

Indonesia (Kalimantan) to India (West Coast)

 10.10

 9.90

9.25

 9.40

9.00

Indonesia (Kalimantan) to India (East Coast)

 8.90

 8.70

8.00

  8.40

8.10

Australia to India

16.50

16.00

16.00

16.00

NA


Source: ICMW (Traders)