South African prices strengthen

摘要

Spot South African coal prices strengthened by around $4/t this week, on the back of deals done at higher levels and buying interest from a Switzerland-based trading firm. The trading firm has been selling implied freight and bidding the spot South African market because it is short prompt South African tonnes. There were four spot South African deals done this week, with two of them hitting the highest level for a spot cargo since early August 2012; a March 50,000t cargo was done at $91.50/t fob Richards Bay (RB), a February 75,000t cargo was booked at $91.50/t fob RB, a February 50,000t cargo traded at $88.90/t fob RB, and a January 50,000t cargo was done at $86.50/t fob RB.