It's a sellers' market, buyers feel the pinch as prices soar

摘要

It's a sellers' market at the moment and nearly all coals on a spot basis are selling at a premium for prompt months and quarter to expectations for 2004 prices. Offers in the prompt month are actually quite scarce, buyers report, although somewhat more plentiful for Q4. An inflow of Chinese, Indonesian and Australian coal into Europe is the only thing capping South African prices, which nonetheless continue to creep up and are currently leveling off at about dollar 41.50/mt CIF ARA - a little less depending on the source of the coal - or about dollar 30.40/mt FOB Richards Bay.