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Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE


Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.

Indian, Chinese and European traders are all seeking Q1 South African cargoes.

A February loading South African cargo traded at USD 70.00 per tonne FOB Richards Bay on globalCOAL up 50 US cents from Thursday's levels. There has been a marked increase in buying interest from China and India for Q1 South African coal but no deals struck yet.

One European trader said that "There's definitely good interest from China which we've seen and the Indians are looking but not buying yet. Richards Bay is stronger and looks like it will go up further but there's nothing happening in Europe."

A February loading South African 75,000 tonne parcel traded at USD 70.00 per tonne FOB Richards Bay on globalCOAL. A March loading South African cargo traded at USD 71.00 per tonne on globalCOAL.

A March loading South African cargo traded at USD 71.00 per tonne via brokers and two further March cargoes traded bilaterally at USD 71.25 and USD 71.50 per tonne.

Source: Reuters / Steel Guru



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