NEWS
Coal  

Indonesian thermal coal prices hold steady

Indonesian thermal coal prices held relatively steady today, with details of physical trades emerging at similar levels to recent transactions. In the ICI 4 derivatives market, a 10,000t block of December contracts traded at a similar price to deals that were concluded yesterday.

Today's 10,000t block of ICI 4 derivatives changed hands at $29.50/t, brokered by Singapore-based Evolution. By comparison, a total of 20,000t of December contracts traded yesterday, of which 15,000t also traded at $29.50/t while a 5,000t block was sold at the slightly higher price of $29.75/t.

Earlier, 10,000t of December contracts traded on 20 November at the higher price of $30.50/t. The latest trades mean that just under 1.7mn t has been cleared on the CME since the contract launched in February.

A total of 170,000t of ICI 4 derivatives contracts have traded so far this month. The highest monthly volumes to date were traded in September and October, when 260,000t and 265,000t respectively cleared on the CME.

In the GAR 4,200 kcal/kg physical market, a December-loading geared supramax cargo changed hands at $29/t, with another December-loading cargo trading at the higher price of $31/t. The exact loading dates of these shipments is unclear, although the market is currently in contango and late-December loading shipments are commanding a slight premium to early-December loading cargoes. Prompter-loading cargoes of this coal are currently at a discount, as sellers of shipments that are destined for China struggle to reschedule loading dates amid concerns that last week's announcement of tighter import restrictions could result in buyers defaulting on cargoes.

Unconfirmed details began to emerge yesterday that two early-December loading geared supramax cargoes of GAR 4,200 kcal/kg coal may have traded at $29/t and $29.50/t respectively. Argus last assessed GAR 4,200 kcal/kg prices at $32.04/t on 16 November, which was $2.48/t lower than the previous week.

Elsewhere in the Indonesian coal market, a fob GAR 3,400 kcal/kg December-loading supramax cargo traded at $19.50/t, while an offer for a December-loading supramax cargo of the same coal was heard at $20/t. Prices of this coal are coming under pressure because the recent steep fall in prices of higher calorific value (CV) product means that these grades are now better value on a heat basis compared with lower-CV product. A December-loading geared supramax cargo changed hands last week at $21.50/t, while Argus last assessed prices of this coal on 16 November at $21.46/t, which was down by 62¢/t compared with a week earlier.

In the Chinese market, offers of domestic NAR 5,500 kcal/kg coal were unchanged from yesterday at 630-635/t yuan on a fob north China basis. Bids from utilities were no higher than Yn625/t, which was also unchanged from yesterday. In China's futures market, the Zhengzhou commodity exchange's January contract closed at Yn618.20/t, down by Yn0.20/t from yesterday.

In the South African coal market, a trader reported concluding a deal for a NAR 5,500 kcal/kg cargo loading out of Richards Bay at minus $27/t to the Argus index for a December-loading cargo. Argus last assessed fob Richards Bay NAR 5,500 kcal/kg prices at $61.07/t on 16 November, which was down sharply by $6.61/t from the previous week.

News No: 2682
Date: 2018/11/22 - 19:11
News Source: Argus Media

coal prices  ICI  CME  supramax  Indonesian 

Comments:

Leave a Comment:

   
   
   
 

Iran Boosting Gas Exports to Iraq

An Iranian official said the exports of natural gas to Iraq are growing steadily and are expected to hit 40 million cubic meters a day in summer.
 

Mapna Says Inactive Power Plants is Bad News

In summer electricity generation reaches its peak in all power plants across the country. However, after the hot season is over, hardly 30% of the power stations operate, the managing director of Mapna Group said.
 

The Copper Company’s export problem resolved / 50 thousand tons of copper concentrate shipped

Me-Metals: Behrouz Rahmati stock and investment affairs director of National Iranian Copper Industries Co. (NICICO) said: with a great deal of efforts of our colleagues in the export department of the company, the first 50000 tons export shipment of NICICO left Iran to export destinations, Saturday morning, 7 Farvardin 1398 (27 March 2019).
 

Copper Cathode production Rises 15%

Copper cathode production of National Iranian Copper Industries Company (NICICO) reached 247,000 tons during last Iranian year (ended March 20,2019), indicating a 15 percent growth compared with the corresponding period of the previous year.
 

ICI 4 coal derivatives trade picks up

Activity in the ICI 4 derivatives market increased again today after a relatively slow start to the month last week, with another 25,000t cleared on the CME after 20,000t traded yesterday.
 

Rise in Electricity and Water Tariffs in Iran

Aproposal by the Energy Ministry to raise water and electricity tariffs by 7% was ratified by the Cabinet. The new rates will go into effect on April 21, Barq News reported.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners