Prompt Indonesian mid-CV coal prices slide

摘要

Physical prices of mid-calorific value (CV) Indonesian coal are falling sharply, pressured by a glut of prompt loading late-October shipments that are being offered by sellers at increasingly aggressive prices in an attempt to clear cargoes. Prices for November-loading shipments of mid-CV coal are not as weak as for October-loading cargoes, although the outlook for November is also starting to weaken. The recent devaluation of the rupee against the dollar is continuing to hurt Indian buyers, some of whom are now seeking steep discounts on cargoes to compensate.