Bids, offers of low-CV Indonesian coal edge up

摘要

Low-calorific value (CV) Indonesian prices showed signs of strengthening today, although the market will likely slow in the absence of main buyer China for a three-day public holiday starting tomorrow. There were increased inquiries in the Indonesian GAR 4,200 kcal/kg (NAR 3,800 kcal/kg) market from some Chinese buyers seeking cargoes ahead of the holiday, although deals were slow to emerge. There is a view in the market that prices may find further support next week, with the Islamic fasting month of Ramadan due to begin on 5 May. Many Indonesian mines reduce their operational hours during Ramadan, which in previous years has curbed supplies. In addition, China is approaching the high-demand summer season, when demand for air conditioning usually pushes electricity consumption higher.