Indonesian coal prices steady amid slow spot trade
There were further signs that the low-calorific value Indonesian coal market was softening today, as details of a trade involving an August-loading GAR 4,200 kcal/kg cargo emerged at a lower price than recent comparable transactions.
The August-loading geared supramax GAR 4,200 kcal/kg cargo sold to a Chinese buyer at $33/t today. This is broadly in line with bids and offers in the market for this type of coal so far this week, but below the $34.50/t level that a similar deal was done at last week. Bids for August-loading supramax cargoes of this coal were stable compared with yesterday at around $32-33/t, while most offers were also little changed at around $33-34/t.
The ICI 4 derivatives market was quiet today after 150,000t traded earlier this week, taking the total volume cleared this month to 484,000t. August ICI 4 futures were bid at $33.75/t and offered at $34.25/t, while September was bid at $33.70/t and offered at $34.20/t. By comparison, Argus-assessed settlement prices yesterday for August and September were both at $34.20/t.
The Australian market saw an October-loading 25,000t clip of NAR 6,000 kcal/kg coal traded at $74.75/t fob Newcastle, while a September-loading 75,000t cargo traded at a $2.80/t discount to the GlobalCoal index. But neither of these trades were relevant to the Argus index.
China's domestic spot market had the tradeable level for NAR 5,500 kcal/kg coal around 600 yuan/t fob north China ports, largely steady compared with earlier this week.
A heatwave across large parts of China since last week has raised power demand for air-conditioning, which in turn is boosting coal consumption and market participants expect this could offer some support to domestic prices for the rest of this month.
China's futures market had the September contract on the Zhengzhou commodity exchange close at Yn592.40/t, down by Yn0.80/t from yesterday.
source: Argus Media
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
