Richards Bay continuing its creep up

摘要

European spot physical prices crept up again last week amid rumors of Richards Bay FOB coal trading at 29.85 dollars/mt, 30.85 dollars /mt and 31 dollars /mt basis 6,000 kcal/kg NAR. Firmer freight prices in Q4 are also believed to be pushing near-term physical prices as buyers give up on the idea of delaying purchases in the hope of achieving cheaper freight later in the year. Forward freight agreements (FFAs) firmed up 40 cents for Q4 over the course of the week and according to freight brokers Freight Investor Services (FIS) had a bid-offer spread of 11.80 dollars -12.00 dollars /mt on the Richards Bay to Rotterdam run. Nearby physical also firmed up approximately 1 dollar/mt over the course of the week and was trading around 11.50 dollars /mt on Friday.