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Indonesian Thermal Coal Prices under Pressure - Report

Coal News - Published on Thu, 22 Aug 2019

Image Source: World Coal
Aurgus reported that there were further signs that low-calorific value Indonesian coal prices were coming under pressure, with details starting to emerge that a September-loading GAR 4,200 kcal per kilogram cargo may have traded at a lower price compared with recent similar deals. Bids and offers for GAR 4,200 kcal per kilogram coal were little changed compared with yesterday, with bids at around USD 30.50 per tonne for geared supramax cargoes and offers at around USD 31.50 per tonne. But details began to emerge that a September-loading supramax cargo may have traded at the lower price of around USD 30.40 per tonne.

By comparison, a deal involving a supramax GAR 4,200 kcal per kilogram shipment was done late last week at USD 31 per tonne. Argus last assessed this market on 16 August at USD 31.19 per tonne, down by 90 per tonne from the previous week and the lowest since early January.

Trade was muted in the ICI 4 derivatives market, with details of fresh deals slow to emerge after a total of 104,000t was cleared on the CME last week. September ICI 4 contracts were bid today at USD 30.90 per t and offered at USD 31.50 per tonne, lower than the last Argus settlement price for this month yesterday at USD 31.55 per tonne. October contracts were bid today at USD 30.75 per tonne and offered at USD 31.50 per tonne, which again was lower compared with yesterday's Argus October settlement price, also was also at USD 31.55 per tonne.

The Australian market also appears to be softening amid ample supplies. A 75,000t October-loading cargo of fob Newcastle NAR 6,000 kcal/kg coal was bid at USD 59 per tonne and offered at USD 63 per tonne on screen. That bid-offer range was broadly in line with yesterday's index-relevant trade at USD 61.25 per tonne fob Newcastle for an October-loading 90,000t cargo, but was lower than the most recent Argus assessment of USD 64.28 per tonne on 16 August.

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Posted By : Sanju Moirangthem on Thu, 22 Aug 2019
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