Lower-grade coal discounts expand

摘要

Discounts for Russian and Kazakh thermal coal with a calo- rific value (CV) of NAR 5,500 kcal/kg delivered into Europe have widened in January compared with last month, reflect- ing weak demand because of a mild winter and high coal stocks in Europe. Discounts were assessed at an average of $6.75/t to the API 2 index on a cif Amsterdam-Rotterdam-Antwerp (ARA) basis this month, extending by 75￠/t from December. The discount for lower-quality product is applied after de-esca- lating the price on lower CV coal to NAR 5,500 kcal/kg from NAR 6,000 kcal/kg.