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South Africa March coal export mainly to Asia

Steel News - Published on Thu, 12 Apr 2012

Reuters reported that Asia again absorbed most of South Africa\'s 6.3 million tonnes of coal exports in March, led by India, China and Taiwan.

Exporters said that India took 1.9 million tonnes of coal in the month, unchanged from February, while China increased its imports to 1.3 million tonnes from 965,000 tonnes in February.

Taiwan showed strong growth also, with imports of 800,000 tonnes, up from around 600,000 in February.

The coal market globally has become oversupplied because almost all major exporters are now producing and shipping more, while demand has been limp in Europe and weaker than expected in Asia, particularly with China largely out of the spot market.

The Atlantic market, which is still suffering from oversupply and weak demand, took 1.4 million tonnes, unchanged from February.

The Amsterdam-Rotterdam-Antwerp coal-importing hub accounted for just over 200,000 tonnes or slightly more than one capesize cargo in March.

Source - Thomson Reuters

(www.steelguru.com)

Posted By : admin on Thu, 12 Apr 2012
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