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Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY


Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and down USD 5 from Monday offer levels.

Traders and utilities said but demand for South African coal remained strong and supply extremely tight for Q1 so the drop in prices overnight should not be misinterpreted as a sign of sudden market weakness.

One trader said "There was a USD 5 gap between bids and offers on Monday and prices have been immensely volatile during the past few weeks but the South African market is still extremely tight and looks bullish. To read more  Reuters / Steel Guru



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Recent News

Wednesday, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...


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Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify. ANZ senior commodities analyst Mark Pervan has increased h ...


Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...


Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...


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