Monday, 09 Jan 2012
Reuters reported that prompt physical coal prices rose by 50-75 US cents a tonne on Friday as players covered short positions and Indian buying showed signs of picking up after several months of a lull.
Traders and utilities in Europe short of Colombian tonnes due to delays to shipments from two of the country biggest exporters, Drummond and Prodeco have been seeking replacement cargoes helping to bolster DES ARA prices.
Suppliers said the gap between South African physical prices and API4 coal swaps has narrowed substantially, enough to tempt Indian trade buyers back into the market.
Traders and utilities said South African coal supply for January is extremely tight, exporters. Almost nothing is available now for January and shrinking volumes for February.
They said the unusually high size of this prompt bid a bid or offer for more than a cape worth is almost unheard of versus the offer for only part of the tonnage sought is the best visible indicator of the market tightening.
Indian cement and sponge iron makers have this week bought several prompt South African cargoes and are seeking more, but the power sector is still squeezed between fixed electricity tariffs, strong coal prices and the weak rupee.
(Sourced from Reuters)
Showing posts with label Australian physical coal prices. Show all posts
Showing posts with label Australian physical coal prices. Show all posts
Monday, January 9, 2012
Thursday, January 5, 2012
Steam coal prices move up with oil on Iranian tension
Thursday, 05 Jan 2012
Reuters reported that physical prompt coal prices moved slightly higher on Wednesday, in line with gains in oil due to growing tension between Iran and the United States and European Union.
A few index inked DES ARA trades took place but no fixed price trades.
A January loading South African cargo was bid at USD 108.50 and offered at USD 112.50, up 25 cents.
A February cargo was bid at USD 104.50, while a March cargo was bid at USD 105.00, unchanged.
A January DES ARA cargo was bid at USD 108, up USD 1.00
A February DES ARA cargo was bid at USD 110.00 and offered at USD 115.00, up USD 1.50
Unless there are fresh supply disruptions, prices look set to continue to drift lower, traders and utilities said.
Coal would not be immune to a spike in oil prices if the United States and EU decide to place an embargo on Iranian oil imports and this escalates.
The US and EU on Wednesday agreed in principle to ban Iranian oil imports but have yet to decide when an embargo would come into effect.
Iran has threatened to close the Strait of Hormuz to oil shipping in response to sanctions.
(Sourced from Reuters)
Reuters reported that physical prompt coal prices moved slightly higher on Wednesday, in line with gains in oil due to growing tension between Iran and the United States and European Union.
A few index inked DES ARA trades took place but no fixed price trades.
A January loading South African cargo was bid at USD 108.50 and offered at USD 112.50, up 25 cents.
A February cargo was bid at USD 104.50, while a March cargo was bid at USD 105.00, unchanged.
A January DES ARA cargo was bid at USD 108, up USD 1.00
A February DES ARA cargo was bid at USD 110.00 and offered at USD 115.00, up USD 1.50
Unless there are fresh supply disruptions, prices look set to continue to drift lower, traders and utilities said.
Coal would not be immune to a spike in oil prices if the United States and EU decide to place an embargo on Iranian oil imports and this escalates.
The US and EU on Wednesday agreed in principle to ban Iranian oil imports but have yet to decide when an embargo would come into effect.
Iran has threatened to close the Strait of Hormuz to oil shipping in response to sanctions.
(Sourced from Reuters)
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)
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)
Friday, February 25, 2011
Australian FOB Newcastle coal bid up to USD 147 per tonne
Friday, 25 Feb 2011
Prompt physical coal prices rose around USD 2.00 on Tuesday following another hike in oil prices due to continued Libyan unrest but Australian FOB Newcastle prices soared to USD 147.50, up from a trade at USD 132 earlier in the day.
Newcastle FOB prices have risen by around $15.00 in the past 10 days on tight supply. Libyan unrest and rising oil prices have been the main drivers behind the general coal price rise but the Newcastle market seems genuinely tight and set for higher prices, far stronger than the South African or delivered Europe markets. Australian coal supply is still recovering after floods earlier in the year and producers as well as end-users and traders are seeking prompt cargoes. This was helping to keep Newcastle prices firm before the violent protests erupted in Libya.
VTB Capital Research said that "Prices rose 40% due to Queensland flooding and have now consolidated, but with increased Chinese and Indian demand likely in the remainder of the year, we think the market will tighten further and move higher again. A lot of companies we've never heard of, Indian and Chinese firms mostly, have been in the market looking for South African, Indonesian, Australian coal, at cheap prices because they don't believe the current Newcastle numbers.”
Newcastle FOB prices have risen by around $15.00 in the past 10 days on tight supply. Libyan unrest and rising oil prices have been the main drivers behind the general coal price rise but the Newcastle market seems genuinely tight and set for higher prices, far stronger than the South African or delivered Europe markets. Australian coal supply is still recovering after floods earlier in the year and producers as well as end-users and traders are seeking prompt cargoes. This was helping to keep Newcastle prices firm before the violent protests erupted in Libya.
VTB Capital Research said that "Prices rose 40% due to Queensland flooding and have now consolidated, but with increased Chinese and Indian demand likely in the remainder of the year, we think the market will tighten further and move higher again. A lot of companies we've never heard of, Indian and Chinese firms mostly, have been in the market looking for South African, Indonesian, Australian coal, at cheap prices because they don't believe the current Newcastle numbers.”
Annual Japanese price settlements are widely expected to match or even exceed 2008's record USD 125 per tonne FOB because the Pacific market is set for tight supply and strong demand overall this year More than 8% of Libya's 1.6 million barrels per day of oil production has been shut down by the political violence and the country's marine terminals were disrupted by a lack of communications Physical coal supply and demand has been unaffected by events in Libya shipping has not been disrupted and Libya neither exports nor imports coal.
Traders and utilities said that but the coal market is sometimes extremely sensitive to moves in other energy markets, particularly oil, and that is the case at present because there are still many players with long positions to defend against slumping prices.
One European market source said that "It's all Libya again, Libya and higher oil prices which means higher coal prices but hardly anybody's buying coal.” (Reuters)
Tags: VTB Capital Research, Chinese, Indian demand
Traders and utilities said that but the coal market is sometimes extremely sensitive to moves in other energy markets, particularly oil, and that is the case at present because there are still many players with long positions to defend against slumping prices.
One European market source said that "It's all Libya again, Libya and higher oil prices which means higher coal prices but hardly anybody's buying coal.” (Reuters)
Tags: VTB Capital Research, Chinese, Indian demand
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