Southeast Asia prices rise on firming demand

摘要

Higher demand from China and Taiwan pushed up prices for Russian coal in Asia-Pacific last week. Spot prices for NAR 6,000 kcal/kg fob Vostochny coal increased by 82￠/t on the week to $75.13/t. At least one 80,000t cargo of Russian high-grade coal was sold to Taiwanese conglomerate Formosa Plastics Group (FPG) a few days ago at $75/t fob for June-July shipment. In a separate FPG tender, Russian offers were beaten by cheaper Australian material, but were nevertheless rejected by the buyer. Russian coal is still available at far eastern ports for spot sales, a trader said.