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Sunday, 03 March 13
INDONESIAN THERMAL COAL SWAPS; CHINA CONTRACTS FALL W-O-W


COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent and CFR South China coal shipment  0.51 W-O-W as of  Friday, 1 March  2013, according to the data released by AsiaClear OTC coal swaps.

A commodity swap is a financial agreement whereby a floating, or spot; price is exchanged for a fixed rate over a specified contract period.

Indonesia Sub-Bit FOB Coal Swaps
Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent  W-W but gained  0.03 percent on D-D on Friday, 1 March 2013, AsiaClear OTC coal swap's report said on Friday. Sub-Bit FOB Indonesia coal swaps for average Q2’  2013 delivery was opened on 25 February 2013 at US$  66.20 pmt and closed at US$  65.70 on 1 March 2013.

Mean Q4’  2013 deliveries for the sub-bit Indonesia's coal swap was opened at $   67.70 pmt on 25 February  2013 and closed at $  67.13 on 1 March 2013.  Average Q4’ delivery price has lost US$ 0.57 PMT W-o-W and US$ 0.02 D-o-D.

However, the sub-bit Indonesia's coal swaps for Cal 2014 delivery lost  W-o-W and D-o-D.

AsiaClear OTC Sub-Bit Indonesia coal swap for average calendar 2014 delivery closed US$  3.50 (5.32%) higher compared to average Q2  delivery price of US$  65.70 on 1 March  2013. In the meantime, the Q4’  2013 coal swap has closed US$  1.43 (2.17%) higher than Q2 ‘ 2013 swap on 1 March  2013.


CFR South China Coal Swaps
CFR South China coal shipment for average Q2’ 2013 delivery price lost 0.51 per cent  W-O-W.

The average Q4’ 2013 delivery price has also lost  W-W but gained D-D. The contract for the mean Q2’ 2013 prices lost US$ 0.45 W-o-W and closed at US$ 86.75 a ton on 1 March 2013. Average Q4 CFR South China coal shipment prices lost US cents 40 PMT W-W and gained US cents 15  per MT DoD.

CFR South China coal shipments (average Q2’ 2013 delivery) was opened at $  87.20 on 25 February 2013  and closed at $  86.75 on 1 March 2013 lost US$ 0.45 PMT in a week. The CFR South China coal swaps for Q4’ 2013 delivery also followed Q2 trend lost 1.18 percent W-o-W.

CFR South China coal swap for average Q4’  2013  delivery closed US$  1.75 higher compared to average Q2’  2013  delivery price. The calendar 2014 coal swap has closed US$  4.75 higher than average Q2 2013 swap.

Indonesia HBA
Indonesian government has sets its February HBA at US$  88.35 for 6322 GAR coal. February’ 13 HBA, US$ 0.80 higher compared to January 2013  bench mark price.

Prices for lower-grade power station coal in Indonesia, gained last week amid rains in mining regions and rising demand from China, according to a Bloomberg survey.  “ Indonesian sub-bituminous coal with a heating value of 4,500 kilocalories a kilogram and maximum 1 percent sulfur rose to an average of $52.28 a metric ton in the week ended Feb. 22, from $48 a ton the previous week, according to the median forecast of four traders surveyed by Bloomberg News,"  as reported by The Jakarta globe, one of the leading English newspaper in Indonesia on 1 March 2013.

India hikes duty on imported steam coal.
The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime, government has reduced  custom and countervailing duty on Bituminous coal.

Finance Minister of India in his budget speech last week, announced a hike in the basic customs duty on steam coal from present zero to two percent and CVD from one per cent to two per cent. Bituminous coal importers now pay lower customs duty and CVD, in the meantime, power plant coal producer to pay higher customs duty and CVD.

Indian media reports say, the government announced raising basic custom and countervailing duty on steam coal, used in power generation, a step which analysts said will lead to marginal increase in power tariffs.



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