Arbitrage for high-ash Australian thermal coal to India closing as Indian prices plunge

摘要

The arbitrage window for moving high-ash thermal coalcargoes from Australia to India has almost closed after staying openfor eight months, following a sharp decline in delivered prices of 5,500 kcal/kg NAR thermal coal to India this week.S&P Global Platts assessed 5,500 kcal/kg NAR thermal coal at$79.70/mt CFR East Coast India Thursday, rebounding marginally fromWednesday when prices fell $5.10/mt day on day to $79/mt. OnThursday, the delivered cost of Australian 5,500 kcal/kg NAR thermalcoal to India’s east coast was $79.25/mt CFR India, including Panamaxfreight of $15.25/mt.