South African coal falls below European hub

摘要

The implied freight rate between the European and South African physical coal hubs turned positive for the first time since September 2019 today, as the drastic slowdown in Indian demand exerted further pressure on prompt prices at Richards Bay. Argus assessed NAR 6,000 kcal/kg fob Richards Bay coal for May-June loading at $41.88/t, which was $0.62/t lower than the NAR 6,000 kcal/kg cif Amsterdam-Rotterdam-Antwerp (ARA) assessment at $42.50/t.