Singapore—Questions on the sustainability of a recent uptick in Kalimantan low-CV thermal coal prices were in the spotlight Thursday, according to market sources. An Indonesia-based producer heard rising demand from the Chinese power plants, and added that their tenders were looking at “quite significant tons.” There was some supply tightness in the market, bids for the Indonesian 4,200 kcal/kg GAR – or 3,800 kcal/kg NAR grade of coal was heard at $32-$32.50/mt FOB Kalimantan, while offers were in the range of $32.50-$33/mt. “Low-CV prices should go up, but very slowly,” an Indonesia-based trader said. China-based traders were pushing down Indonesian FOB prices on the back of a weakened Yuan and elevated freight rates, according to a south China-based trader. “Seaborne prices should remain flat this month, with China still being the price driver,” a Singapore-based trader said.
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