The European Thermal Coal Price Index remained above $170 per tonne, supported by liquefied natural gas (LNG) prices that have re-established highs amid tight inventories at EU LNG storage facilities. As LNG gas prices in Asia are more attractive, LNG suppliers increase shipments to the region, creating a supply shortage in the European LNG gas market.
South African coal price has increased to 157 USD/ton. The main factor supporting prices remains the problem of supplying raw materials via the railway, linking the coal-producing provinces of South Africa and the troubled port of Richards Bay. In addition, trading activity increased from Asia-Pacific countries.
The price of 5,500 kcal/kg of domestically produced coal at Qinhuangdao port has increased by more than 190 USD/ton in the context of limited supply in the domestic Chinese market. On September 10, 2021, China’s National Development and Reform Commission (NDRC) met with major coal producers and energy companies to boost supply and stabilize prices in the coming months. next. The Chinese government has restricted railway traffic and coal mining in Shaanxi province due to the 14th China National Games (September 15 to 27, 2021).
Australia’s coal quotation rose above 180 USD/ton. Increased trading activity by Asian consumers, stockpiling build-up ahead of winter, has had a positive impact on Australian coal price indexes.
The state of emergency that was introduced in Indonesia from September 4 to September 17, 2021, due to heavy rain and flooding, also became the cause of force majeure announced by some local mining companies, leading to an increase in the price of 5900 kcal coal of Indonesia to 135 USD/ton.
Limited coking coal supplies by key coal mining countries, as well as high prices in the Chinese domestic market, forced Chinese steel mills to buy Australian raw materials from Asian traders, increasing the Australia’s coal volume reached 350 USD/ton.
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