Mon May 9, 2011 11:42am GMT
LONDON (Reuters) - South Africa exported 1.2 million tonnes of thermal coal to India in April, a fall from 1.5 million shipped in March, exporter sources said.
India since 2005 has become a key market for South African coal and an important price-driver for FOB Richards Bay coal prices, because India's coal imports have surged to meet demand that its domestic coal industry cannot supply.
India has a structural need for increasing tonnages of imported coal but buyers shift quickly between coal origins depending on which has a lower delivered cost.
"We have reduced our South African buying and have not signed term contracts for several months. It's just too expensive and not competitive against cheaper Indonesian coal," one of India's biggest trade importers said.
India took 25 percent of South Africa's 4.8 million tonnes of total coal exports in April, the sources said.
Asian demand for South African coal also from China, South Korea, Taiwan and Malaysia has more than compensated for a fall in European buying due to oversupply.
China imported 500,000 tonnes of South African coal in April, a slight rise from 450,000 tonnes in March.
The percentage of Indian imports of South African coal has dropped markedly since January, having averaged 30 percent per month throughout 2010.
India took 28 percent of total exports of 5.6 million in March and 19 percent in February, compared with 34 percent in January. (sourced Thomson Reuters)
Showing posts with label S.African. Show all posts
Showing posts with label S.African. Show all posts
Tuesday, May 10, 2011
Saturday, February 19, 2011
S.Africa puts Quattro coal in RBCT's hands: sources
Saturday, Feb19,2011
South Africa's Department of Mineral Resources has told junior coal exporter members of the Quattro scheme that its administration will be handled by Richards Bay Coal Terminal (RBCT) instead of current operator Mhlatuze, sources at Mhlatuze and junior exporters said.
A total of 4 million tonnes a year of thermal coal is exported under Quattro through RBCT's facilities, but the administration - including the running of stockpiles, loadings and trains - has been handled by Mhlatuze, which is owned by the Quattro member companies.
Quattro member companies who attended a regular meeting earlier this week were given a letter from the department (DMR), which explained that the move would take place as soon as possible, sources at the meeting said.
It makes sense for RBCT to be handling Quattro's operations on the terminal side, and Transnet have already offered to arrange trains, etc., said a junior mining source present at the meeting.
Neither the DMR nor RBCT were immediately available for comment.
(sourced:Reuters)
Tags: South Africa, thermal coal, DMR, RBCT, Transnet,
South Africa's Department of Mineral Resources has told junior coal exporter members of the Quattro scheme that its administration will be handled by Richards Bay Coal Terminal (RBCT) instead of current operator Mhlatuze, sources at Mhlatuze and junior exporters said.
A total of 4 million tonnes a year of thermal coal is exported under Quattro through RBCT's facilities, but the administration - including the running of stockpiles, loadings and trains - has been handled by Mhlatuze, which is owned by the Quattro member companies.
Quattro member companies who attended a regular meeting earlier this week were given a letter from the department (DMR), which explained that the move would take place as soon as possible, sources at the meeting said.
It makes sense for RBCT to be handling Quattro's operations on the terminal side, and Transnet have already offered to arrange trains, etc., said a junior mining source present at the meeting.
Neither the DMR nor RBCT were immediately available for comment.
(sourced:Reuters)
Tags: South Africa, thermal coal, DMR, RBCT, Transnet,
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