Atlantic coal swaps slip as Chinese import tax adds bearish pressure

摘要

European CIF ARA thermal coal swapssoftened in Thursday trade, with traders saying thatChina’s announcement of a tax on coal imports from October 15 would heap more bearish pressure on analready oversupplied physical market.With on-day losses in South African FOB Richards Baypaper contracts outpacing those of their CIF ARAcounterparts, prompt implied freight margins — which hadrallied by over $1 Tuesday — continued their recentretracement, with the front quarter differential widening 20cents Thursday to $4.25/mt.