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Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START


Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact of slower Chinese imports, traders said.

The market's focus has been on Chinese demand and indications of a slowdown due to the Lunar New Year holiday this week have prompted some players to sell coal swaps, which has pulled down physical prices. China's imports of South African coal peaked in December but fell by 55 percent in January, on the face of it a bearish sign.

India's imports from South Africa also fell between December and January by 39 percent but this was due to producers maximizing end-year exports rather than a drop in Indian need, producers said. Continued strong Asian demand for steam coal will help push prices higher during 2010 but not to the record levels seen in 2008, they said.
Source: BloombergUTV



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Recent News

Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...


Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...


Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading. European ...


Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...


Saturday, 13 February 10
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Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...


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