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Thursday, December 15, 2011

Steam coal prices slip

Thursday, 15 Dec 2011

Reuters reported that physical prompt coal prices slipped again by around 50 cents to 75 cents on Wednesday in line with weaker oil, the euro and equities and in the absence of fresh spot trade.

A January delivery DES ARA cargo was bid at USD 112 a tonne for Russian coal only, delivered to Rotterdam only.

A February multi origin DES ARA cargo was bid at USD 109.50 and offered at USD 110.00, slightly lower than Monday.

A February Russian cargo was also bid at USD 112.00.

A December loading South African cargo was bid at USD 99.50 a tonne FOB Richards Bay.

A January South African cargo was bid at USD 101.20 and offered at USD 103.

No fixed price trades had taken place and most bids and offers had been withdrawn, a sign that the market has already largely wound down before the end of year holidays.

(Sourced from Reuters)

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