Coal prices in South Africa fell back from a three-month high, falling to $180 per tonne when the ban on coal exports from Indonesia was lifted. Coal inventories at the Richards Bay Coal Terminal fell to about 2 million tonnes, a record low in the past five years.
In 2021, South Africa’s total coal exports fell to a 20-year low of 63 million tonnes (down 10 million tonnes or 14% from last year), due to rail infrastructure problems.
From January 31 to February 6, China is celebrating the New Year, which significantly reduces business activity in the domestic market. Coal price in China spot 5,500 NAR increased by 5 USD/ton to 176 USD/ton FOB Qinhuangdao.
However, China’s National Development and Reform Commission (NDRC), after meeting with major miners last week, has stated that domestic thermal coal prices may drop after the holiday. The NDRC asked suppliers not to raise prices above $140-157/ton FOB and $110/ton for coal 5,500 kcal/kg NAR, and urged rail and port operators not to accept the cargo. priced above this threshold.
Australia’s coal price fell below $225/ton as exports recovered, following the decline of the COVID-19 epidemic in Australia, the lifting of the coal export ban from Indonesia as well as low trading activity due to the Lunar New Year holiday. .
Strong demand from China, ahead of the Olympics and the Lunar New Year holiday, supported Indonesia’s 5900 GAR coal up to $135/ton FOB Kalimantan. Indonesia will completely lift the coal export ban imposed by the government from January 1 to January 31, 2022.

Australia’s coke index remains at a historic high of $440-445 per tonne, as supply shortages continue in the global market.

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