中文
Indonesian thermal coal prices were almost unchanged on November 24, as Chinese buyers became cautious after the Chinese domestic market cooled down.
Offers for December-loading Panamax cargoes of 3,800 Kcal/kg NAR coal stood stable at $61-62/t FOB during the session, and some mid-CV cargoes for 4,500 Kcal/kg NAR coal were quoted at $81-82/t.
The market activity cooled down with almost no bidding prices reported from Chinese buyers, a stark contrast to a day earlier when a lot of inquiries were seen.
A Chinese power producer closed a seaborne coal tender today, which sought 861,000 tonnes of coal for December and January deliveries. The tender offers appeared to fall compared with those for another tender it closed two days earlier.
Offers from traders during the latest tender stood at 554-562 yuan/t for 3,800 Kcal/kg NAR coal, down about 10-20 yuan/t from the previous offers. This suggested traders were bearish about the spot market in early- and mid-December.
Australian coal exports were almost unaffected by the upcoming protest at Newcastle port this weekend, despite a possible deferral of 7-8 shipments, according to a Chinese trader.
Newcastle 5,500 Kcal/kg NAR coal offers stood at $98/t FOB, while Chinese buyers countered at around $94/t, traders noted. A couple of cargoes reportedly traded at $93/t or so, but suppliers preferred to sale on index-based rather than fixed prices.
Capesize freight rates stood at $14/t FOB from Newcastle to South China, while rates for Panamax vessels were $18/t on the same trip.
Colombian cargoes were also said to be en route to China, which could weigh on Australian prices if supply increases as expected next month.
Colombian 5,500 Kcal/kg NAR coal for mid-January arrival was traded at 870 yuan/t CFR South China with VAT, one south China-based trader said. December-loading Australian Capesize cargoes were offered at 910 yuan/t, a trader said.
On November 24, the CCI index for Indonesian 4,700 Kcal/kg NAR thermal coal was flat at $91.5/t CFR South China and $83.7/t on FOB basis. The CCI index for Indonesian 3,800 Kcal/kg NAR coal was assessed unchanged at $68.5/t CFR and $59.0/t FOB.
The CCI index for Australian 5,500 Kcal/kg NAR coal edged $0.5/t lower at $108.5/t CFR South China.
(Writing by Alex Guo Editing by Harry Huo)
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