Newcastle 5,500 kcal/kg NAR worth falls 11% since finish Might
Consumers in a quantity of nations seen preferring Russian coal
Asian buyers buying for extra Indonesia, Russian supplies
Newcastle thermal coal prices are anticipated To primarytain subdued by way of the second half of June and into July as reductions provided for completely different origin coals proceed to lure Asian buyers away from Australian coal, sources informed S&P Worldwide Commodity Insights June 12-15.
Acquire Daily e-mail alerts, subscriber notes & personalize your expertise.
Asian buyers Which have primarytained away from procuring Australian coal since a worth spike Inside the wake of Russia’s invasion of Ukraine are said to be persevering with To buy extra coal from Russia As a Outcome of of reductions provided, and from Indonesia.
Newcastle 5,500 kcal/kg NAR coal with 23% ash worth was assessed at $178/mt FOB June 14, down 11% since Might 31, and down sharply from virtually $300/mt in H1 March.
Russian 6,000 kcal/kg NAR coal presently is indicatively worthd between $180-$200/mt CFR India, Based mostly on market sources.
“[It is] an extfinished interval when Asian buyers primarytained away from Australian coal of this grade [5,500 kcal/kg NAR]. This grade is used for blfinishing and Japan, South Korea and Taiwan are anyway not huge clients of …….