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Indonesian thermal coal prices hold steady - Report

Coal News - Published on Fri, 19 Apr 2019

Image Source: SteelGuru
Argus Media reported that Indonesian thermal coal prices were little changed today, with most participants holding back from the market to wait for results of a Chinese utility tender. Trade has also been dampened to some extent by a public holiday in Indonesia for the country's presidential elections tomorrow as well as a public holiday in India tomorrow. This will be followed by another public holiday in several countries, including the regional hub of Singapore, on 19 April.

State-controlled Chinese utility Yudean issued a tender seeking 65,000 tonnes cargoes of Indonesian coal with a calorific value of NAR 4,500-5,500 kcal/kg for 1-15 May delivery, as well as 50,000-65,000t cargoes of Indonesian coal with the same CV for delivery during 1-20 May. The utility, based in Guangdong in south China, did not indicate the total amount it intends to buy, revealing only the cargo sizes it will accept. Price details for cargoes awarded in the tender are expected to give the market a better sense of direction in the coming days.

In the actively traded GAR 4,200 kcal/kg spot market, bids for May-loading geared Supramax shipments were slightly higher compared with levels heard yesterday, although offers were fairly steady. A Chinese buyer bid for a May-loading Supramax of this coal at USD 37, up slightly from bid levels heard in the market yesterday at USD 36-36.5, while most offers were around USD 38.5-39.

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Posted By : Rabi Wangkhem on Fri, 19 Apr 2019
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