Lower-grade coal discounts widen further

摘要

Discounts for Russian and Kazakh thermal coal with a calo- rific value of NAR 5,500 kcal/kg delivered into Europe con- tinues to widen in April — for the fourth consecutive month — because of oversupply in Europe and weak demand. Many buyers have been postponing further purchases in anticipa- tion of further price declines owing to the bearish market. Discounts were assessed at an average of $8.15/t to the API 2 index on a cif Amsterdam-Rotterdam-Antwerp (ARA) basis this month, up by 75￠/t from March. Discounts for lower-quality product are applied after de-escalating prices on lower calorific value product to NAR 5,500 kcal/kg from NAR 6,000 kcal/kg.