Australia HA thermal coal prices gain traction amid buy-side support: sources

摘要

Singapore—An uptick in inquiries for seaborne thermal coal following the reset of import quota at various Chinese ports has fueled a rise in the price of Newcastle high-ash cargoes since late last week, sources said Monday. “Chinese seaborne demand picked up after the reset of import quota,” multiple Chinese sources said. Two trades of 5,500 kcal/kg NAR Australian coal were done at $53/ mt FOB and $53.50/mt FOB on Capesize shipments last Friday while another trade at $54/mt FOB on a Panamax shipment was heard but could not be confirmed. Bids for this grade were heard at $52.50-$53/mt FOB, 50 cents higher from Friday while offers were heard unchanged at $54/mt FOB. Elsewhere, some Japanese power utilities have traded 6,000 kcal/ kg NAR Australian coal on Capesize vessels at $60/mt FOB for loading in February, while others were done around $64-$65/mt FOB on a similar basis, a trader said.