The European thermal coal index rose above $360/ton amid sharp increases in electricity and gas prices, due to a decrease in gas supplies from Russia and the United States.

South African coal prices rose above 330 USD/ton, following the trend of the European market. South African producer Thungela reported a drop in coal exports for the first half of 2022 to 6.1 million tonnes (down 1 million tonnes, or 14% year-on-year) due to limited capacity. of the railroad leading to the port of Richards Bay.
In China, spot price of 5500 NAR increased to 189.50 USD/ton FOB Qinhuangdao. The growth of coal quotes in China’s domestic market is the result of a recovery in industrial activity.
A drop in trading activity by Asian consumers, who take a wait-and-see approach because of high prices, hit Australian raw material quotes, which fell below $380 a tonne. Indian consumers are more interested in Russian raw materials, prices are lower compared to Australian materials.
Indonesia’s 5900 GAR index traded at 193 USD/ton. Market participants note growing demand from Chinese power plants for imported coal. China’s initiative to increase supply to coastal power plants to avoid a repeat of blackouts in major cities.

Australia’s metallurgical coal index is at $380/ton.

Source: thecoalhub.com

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