Tue,25 Oct 2011
Commodity Online reported that anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal market, further heightening worries for softer import demand for the rest of Q4.
The international coal benchmarks tumbled amidst weak market fundamentals due to the current global supply glut. API2 and API4 shifted downward roughly USD 3 across the curve.
Stocks at European ports and Richards Bay remain quite high, with little buying interest from consumers because the spot market European utilities have not sourced coal aggressively despite improved river water levels and higher clean dark spreads as coal and carbon prices have fallen recently.
Chinese and Indian demand remains lacklustre, giving little support for Richards Bay prices.
(sourced from Commodity Online)
Commodity Online reported that anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal market, further heightening worries for softer import demand for the rest of Q4.
The international coal benchmarks tumbled amidst weak market fundamentals due to the current global supply glut. API2 and API4 shifted downward roughly USD 3 across the curve.
Stocks at European ports and Richards Bay remain quite high, with little buying interest from consumers because the spot market European utilities have not sourced coal aggressively despite improved river water levels and higher clean dark spreads as coal and carbon prices have fallen recently.
Chinese and Indian demand remains lacklustre, giving little support for Richards Bay prices.
(sourced from Commodity Online)
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