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Thursday, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR


Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over $72 a tonne on higher oil prices and expectations that a recovery in global economy would spur demand.

Thermal coal prices in the globalCOAL Newcastle index rose $6.48 from the previous week to $72.79 a tonne, the highest since Feb. 24 when it stood at $73.38 a tonne. "There is some direction now with the gain in oil prices. Also, there is positive sentiment about the global economy that pulling up prices," a regional trader said.

Crude oil steadied at $66 a barrel on Thursday after hitting nearly seven-month high of $69.05 a tonne on Tuesday on expectations of an economic recovery.

Strong demand from China and India is also expected to spur recovery in global coal in the second half of this year, industry participants said at a recent industry gathering.

There were no physical trades registered on globalCOAL.

INDONESIA COAL

Chinese buyers were still scouting for Indonesia coal. One handimax of 6,300 kcal/kg air-dried basis (ADB), FOB mother vessel, has been sold to a Chinese buyer at $55 a tonne for delivery in July.

"The price was still a bit low because it was settled in April. We still see a lot of inquiries from China. Now, everybody suddenly wants to trade with China," said an Indonesian trader.

Indonesian coal prices are likely to go up to around $60 in coming weeks in line with a recovery in global coal prices, the trader said.

About 11,000 tonnes of Indonesian sub-bituminous coal of 5,600 kcal/kg ADB were traded at $39.5 a tonne, FOB barge from East Kalimantan, but there were no details of buyers.

"Inquiries are now starting to come in, because of a rise in prices," said another Indonesian trader.

In the domestic market, demand remained slow as power plants still have abundant supplies, of more than a month, traders said, adding power plants may be back to the market in the third quarter to secure stockpiles ahead of the rainy season.

Source: http://www.iii.co.uk/news/?type=afxnews&articleid=7354705&subject=companies&action=article



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Recent News

Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...


Tuesday, 11 August 09
ZAMBIAN COAL BUYERS CONTINUE IMPORTING COAL FROM ZIMBABWE
Lusaka Times reported that, Coal mining companies have bemoaned the lack of market for their produce as prospective buyers continue importing the co ...


Monday, 10 August 09
NOMINAL HIKE IN COAL PRICES SOON - MEDIA
The hindu business reported that, a marginal hike in coal prices is in the offing. "I will be soon approaching the Prime Minister on the matter ...


Monday, 10 August 09
MANGALAM CEMENT PLACES ORDER FOR CAPTIVE POWER PLANT
Steel Guru reported that, Mangalam Cement Ltd has announced that the company on August 6th 2009 finalized order for Captive Thermal Power Plant of 1 ...


Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same p ...


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