Asia Coal-Australia thermal coal prices up in thinly traded mkt

PERTH Tue May 24, 2011 3:19pm IST

PERTH May 24 (Reuters) - Australia's thermal coal prices moved up during the past week in a thinly traded market that saw renewed interest from some Japanese buyers after a devastating tsunami in March cut the nation's coal demand.

Thermal coal on the globalCOAL Newcastle index for the week to date was $120.69 per tonne on Monday, up from $115.88 a week earlier, but market sources said the index represented a market with very little liquidity.

"There's just not a lot of tonnes, there's not a lot of players out there buying and selling," one Singapore-based market source said.

But traders and brokers said there were signs that Japanese buyer interest in coal deals has been reignited after it was forced to stop taking coal shipments in March due to the massive tsunami that shut some power plants.

Japanese buying patterns will likely return to normal by August, the source said, although demand may continue to be sluggish for June and July.

Newcastle coal for June delivery was traded for $112 per tonne on Friday, while tonnes for August delivery were traded at $120 per tonne on Tuesday and $122 per tonne on Friday.

Coal for July was offered at $121 per tonne on Tuesday with no bids.

Chinese import demand, particularly for Indonesian sub-bituminous coal, has continued as domestic prices moved to the highest level in two years last week, but slowed since last week. [ID:nL4E7GK13Q]

"China buying from Indonesia has cooled down a bit... Indonesian prices are reaching a peak, I think," said another market source based in Singapore.

Korea Southern Power Co Ltd (KOSPO) also bought Indonesian coal at about $106 per tonne on a free-on-board (FOB) basis for 4,500 kcal/kg (NAR). [ID:nL3E7FJ01X].


Reuters coal data guide..............

All coal news........................

Power and gas news...................


Australian spot prices..............

Australia Newcastle stocks..........

China monthly coal import/export....

Coal Freight prices.................


Spot trades...

Coal tenders...


McCloskeys weekly physical spot/freight prices..<0#MCC-CASH>

API4 coal paper prices, McCloskeys............<0#MCC-C-API4>

API2 coal paper prices, McCloskeys............<0#MCC-C-API2>

Indonesian Govt Coal Benchmark...................<0#COAL-ID> (Reporting by Rebekah Kebede; Editing by Himani Sarkar)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Economic Pulse


Apple Result

Apple Result

Apple's iPhone sales beat Street but iPad volumes slide.  Full Article 

Nadella's Paycheck

Nadella's Paycheck

New Microsoft CEO Nadella's pay tops $80 mln with big stock awards.  Full Article 

Deregulation Impact

Deregulation Impact

Private fuel retailers to dip toe, not dive back, into India  Full Article 

Airport Accident

Airport Accident

Total CEO de Margerie killed in Moscow plane accident - airport spokeswoman.  Full Article 

Gold Import

Gold Import

RBI will not change gold import rules - sources  Full Article 

Idea Results

Idea Results

Idea Cellular Q2 profit up 69 percent  Full Article 

An RBI First

An RBI First

RBI releases minutes of financial stability council's Aug meet  Full Article 

IBM Earnings

IBM Earnings

IBM ditches 2015 operating EPS target, shares slump 7 pct  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage