KOREAN GENCOS are set to turn their attention to thermal coal purchasing requirements for Q2 2015, having fulfilled most of their Q1 buying. Tendering for Q2 at this time is expected to mostly centre around lower calorie product in the 4,500-4,700 kc NAR range. "Since there continues to be downward pressure on prices, I reckon the gencos are content to continue to purchase through spot tenders," one source in Seoul said. Looking to the year ahead, joint tendering is expected to account for 15% of annual purchasing, in line with the level seen this year. One source indicated, however, that the government is yet to enshrine that 15% joint tender requirement level, with no official confirmation having been forthcoming.
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