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Coal export and import prices (TEXT ADDED) // week 46

21.11.16
12:07

November 18 November 11 w-o-w
Thermal coal, $/tonne
export*
Russian coal, FOB Riga 79 - 89 86 - 89 -3.5
Russian coal, FOB Vostochny 105 - 115 105 - 115 =
South Africa, FOB Richards Bay 79 - 92 96 - 102 -13.5
Australia, FOB Newcastle 86 - 109 110 - 116 -15.5
import
Europe*, CIF ARA 81 - 91 89 - 91 -4
Turkey*, CIF Marmara 89 - 91 89 - 92 -0.5
Japan*, CIF East Coast of Japan 119 117 +2
China**, C&F northern ports 83 - 93 92 - 94 -5
India**, C&F East / West Coast 81 - 94 91 - 97 -6.5
Coking coal, $/tonne
export
Australia, FOB Gladstone 305 - 315 305 - 315 =
Canada, FOB Vancouver 280 - 300 260 - 270 +25
USA, FOB Norfolk 180 - 216 180 - 216 =
Russian coal***, DAF Ukraine 148 - 170 148 - 170 =
import
China***, C&F northern ports 205 - 220 205 - 220 =

* - 6000-6300 kcal/kg coal

** - 5500 kcal/kg coal

*** - coal of ranks K and Zh

Coal prices have dropped by $4/t to $81-91/t CIF ARA in the West European market following a decrease in quotes in the Southeast Asian region. This news has surprised the buyers, as many of them expected the downturn not earlier than in Q1 2017. Trade has been moderate in mid-November, with most deals signed closer to weekends, when the prices dropped to the lowest level. On Monday, two 50,000 t lots of coal with shipments in December were purchased at $90.8/t and $90.5/t DES ARA. On Friday, two similar lots of the cargo were bought at $82/t and $81.5/t DES ARA. A 50,000 t lot of coal to be supplied in January was acquired at $79/t DES ARA.

As before, Turkish importers show very little interest in purchasing of thermal coal. The reason is in fact that many consumers have already accumulated sufficient stocks of the material to meet the production requirements in Q1 2017. In their turn, the supplies see no point in offering the cargo amid the dull market. Therefore, the supply of coal is exceedingly weak in Turkey. The quotes have inched down by $0.5/t to $89-91/t CIF Marmara over the week.

In November 11-18, the overall volume of coal at stocks of Ukrainian thermal power plants increased from 1.78 million t to 1.82 million t. In particular, the volume of anthracite coal reached some 902,000 t, a 86,000 t growth over the week. Meanwhile, the volume of coal of gas and long-flame grades declined by 39,000 t to 922,000 t.

Export quotes for Australian coal have dropped sharply in mid-November following a slump in prices in the Chinese domestic market caused by the growing production in the country. At present, Australian cargo is offered at $86-109/t FOB Newcastle ($15.5/t down). The number of deals has been rather ample this week to support the trade in the market, but most buyers still prefer to wait and see, refraining from large purchases. Five 25,000 t lots of coal with shipments in December have been sold at $109-111.5/t FOB Newcastle. It is worth noting that on Monday the deals were signed at the upper level of the price range. A total of 130,000 t of coal to be supplied in December have been sold at $82-83/t FOB Newcastle. Three 25,000 t lots of the cargo to be delivered in January have been acquired at $87.25-98.5/t FOB Newcastle. A contract for the supply of 75,000 t of coal in Q1 2017 has been concluded at $84/t on the same basis.

Export prices for South African coal have plunged by $13.5/t to $79-92/t FOB Richards Bay amid falling quotes in the Southeast Asian region, major market players explain. Nevertheless, the buying interest has stayed flat even after such a considerable price drop. Only two 50,000 t lots of coal have been sold this week. One lot of the cargo with shipment in December has been bought at $91/t FOB Richards Bay, while another lot of coal to be supplied in January has been purchased at $79.25/t on the same basis.

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