The international thermal coal market fluctuates and the European market performs well
2023/8/21
As of August 18th, the 5-day average closing price of 5500 kcal of steam coal in Newcastle Port, Australia was 88.13 US dollars per ton, a decrease of 0.61 US dollars per ton or 0.69% compared to last week; The 5-day average closing price of 5500 kcal thermal coal at Richards Port closed at $92.42 per ton, an increase of $0.08 per ton or 0.09% compared to last week; The daily average CIF price of 6000 kcal of steam coal for the three ports in Europe is 122.5 US dollars per ton, an increase of 5.5 US dollars per ton or 4.7% compared to last week.
Asia Pacific region: Last week, Japanese users still had sufficient coal inventory, and Japanese buyers' demand for spot goods was still low. According to industry insiders, the peak summer electricity demand in Japan and South Korea may have ended, and Australian coal prices continue to decline slightly. In terms of Indonesian coal, in the recent import coal bidding released by domestic power plants, the bidding prices of traders have slightly increased compared to the previous period. Although this has led to a rebound in import market sentiment, most traders have stated that the reason for the increase in bidding prices is mainly due to the recent depreciation of the RMB and the rise in sea freight, which have driven up the cost of imported coal. The extent of the increase still depends on actual trading volume. It is worth noting that after experiencing a period of sluggish demand, Indian buyers have recently returned to the market and are willing to inquire about the delivery of Indonesian medium and low calorie coal from September to October. Indonesian coal prices have remained stable this week with little change.
Atlantic region: Recently, the prices of thermal coal in the European market have significantly increased, mainly due to the significant increase in natural gas and electricity price indices supporting coal prices. This week, with the rise in European thermal coal prices and increased demand from Indian sponge iron producers, South African high calorie thermal coal prices have received some support.
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