14 Feb Industrial Bituminous & Sub-Bituminous Coal
Anthracite prices are stable across global markets. Russian anthracite into Rotterdam is assessed at $128-130/t FOB ARA barge for fines material. Lump grade is $150-155/t, up marginally. A recent price spike in thermal coal helped prices. Russian anthracite into Turkey is higher at $155/t DAF for sized 25-50mm grades. In Asia, India demand is slowing, as buyers’ sense weakness for anthracite in Asian markets. Delivered prices are assessed at $150/t CIF and $158/t CIF Japan. The freight market is also quiet ahead of the Lunar New Year. Met coke into ARA is about $310/t CIF and into India it is $345/t CIF. PCI coals are also steady at $138-140/t CIF Rotterdam, ex-Baltic Sea and $130-135/t CIF Med, ex-Black Sea. Buyers are holding off until markets weaken. The coking coal complex is beginning to drift lower. Steam coal markets have come off slightly following a strong start in 2018 due to cold weather. Spot demand is weaker though Chinese demand and consumptions rages on. Lower CV Russian coal is priced at $84/t DAP Rotterdam. South African coal is assessed at $105/t CIF Egypt and Russian coal into the same market is about $103/t CIF. A lack of demand in Europe is seeing US IB coal offered into Egypt in a range of $83-85/t CIF. Australian prices are up as Japan’s power producer prepare for negotiations for longer-term contracts. Outlook – Stable outlook for anthracite and PCI. Strong carbon prices €8-9/t will push thermal demand down. Oil price will set tone for overall direction.