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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

Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...


Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000  MT of min. 4300, 3500 and 5600 NCV ...


Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
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Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
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Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...


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