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Thursday, 07 May 09
ASIA COAL-PRICES EASE TO NEAR $63 ON DEMAND CONCERNS - REUTERS


AUSTRALIAN thermal coal prices, a benchmark for Asia, edged lower to around $63 a tonne on concerns over demand, after hitting a two-week high of $64 earlier in the week.

Thermal coal prices on the
globalCOAL Newcastle weekly index were at $63.17 a tonne late on Wednesday, up from $62.27 a tonne a week ago.

"It's a temporary fluctuation," a regional trader said.

"But the trend is still sluggish as coal stocks are quite healthy and Indian demand is going to subside in May," the trader said.

Indian buyers tend to stock up on coal before the start of the monsoon in India in June.

There were no physical trades registered on globalCOAL.

* INDONESIA COAL

Indonesian bituminous coal of 6,300 kcal/kg air-dried basis was offered at around $60 a tonne, FOB mother vessel from Sumatra, while some traders offered coal of the same quality at between $65-$66 a tonne, FOB mother vessel from Kalimantan.

Indian demand for Indonesian coal eased as buyers switched to South African coal, while Chinese buyers who had been active in the past weeks slowed purchasing, an Indonesian producer said.

"We still see a lot of inquiries from Chinese buyers. But they stop short on asking prices," the producer said.

Buyers were seeking Indonesian coal of 6,300 kcal/kg at $51-$55, FOB mother vessel, the producer said.

Indonesian sub-bituminous coal of 5,300 kcal/kg was offered at around $35-$37 a tonne, FOB mother vessel from Kalimantan.

Demand from industrial sectors such as textiles has eased but steady demand from power plants helped to support prices.

PT Pembangkitan Jawa-Bali, a unit of state-electricity firm Perusahaan Listrik Negara, is in the process of short-listing bidders in a tender seeking 60,000 tonnes of 4,900 kcal/kg as-received coal a month for its Paiton power plant.

The firm is expected to award the contract in coming weeks.
Sourcing : http://in.reuters.com/article/domesticNews/idINJAK11241220090507?sp=true



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Recent News

Wednesday, 18 March 09
MANILA'S NAPOCOR SAYS BIDDING FOR 100,000T COAL FAILS - REUTERS
Top Philippine electricityproducer National Power Corp (Napocor) was unable to secure 100,000 tonnes of local coal for one of its power plantsfollow ...


Wednesday, 18 March 09
INDONESIA'S PLN APPOINTS KPC TO SUPPLY COAL - REUTERS
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Monday, 16 March 09
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Tata Power Co., India’s biggest electricity generator outside state control, said it has “no intention” to sell its stake in two I ...


Monday, 16 March 09
ANTAM SELECTS PARTNERS FOR POMALAA POWER PLANT - THE JAKARTA POST
PT Aneka Tambang Tbk, Indonesia’s second-largest nickel producer, said it intended to develop a $300 million coal-fired plant in Pomalaa, Sout ...


Monday, 16 March 09
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PT Adaro Energy Tbk, Indonesia's second-largest coal producer, plans to acquire a coal barging and transshipment company to improve its supply chai ...


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