Pacific coal follows Atlantic with firming prices into Europe

摘要

Asian offers into Europe took a hike last week with coal offered from the Pacific rim up 1 dollar/mt on offers the previous week. Chinese coal offered by CNCIEC increased to 39.50 dollars/mt for Q3 and Q4 deliveries. With freight approximately 13 dollars/mt from Qinhuangdao to Rotterdam, Chinese FOB prices are close to 26.50 dollars/mt offered into Europe. However, this appears to be a price exclusive to Europe with Chinese suppliers offering 27 dollars-27.50 dollars/mt into Korean tenders. Elsewhere, Indonesian offers into Europe appear to be firming with significant tonnage sold into Europe in recent weeks with western and northern European utilities taking cargoes. Offers from Indonesia into ARA are close to 39.50 dollars/mt CIF basis 6,000 kcal/kg NAR.