Coal Prices:
Richards Bay prices edge to $82/mt
London (Platts)--30Oct2007
South African coal prices traded up another dollar Monday as two panamaxes of
Richards Bay contract coal were snapped up on globalCOAL.
A utility/trader was said by a market source to have booked a panamax cargo of
FOB Richards Bay contract coal for December at $82/mt on globalCOAL Monday.
A panamax cargo of Richards Bay contract coal for December delivery also went
through the trading platform flat to FOB Richards Bay index, API4, Monday.
A February delivery cargo of FOB Richards Bay contract coal traded at $81/mt
last Friday. "Winter is coming and prices are bound to get higher," said one
utility source.
Traders and utility sources said there was good interest in FOB Richards Bay
cargoes for December which were offered on at $82.50/mt FOB on globalCOAL
Monday.
Also on globalCOAL Monday, a 50,000 mt parcel of DES ARA contract coal for
January delivery changed hands at $131/mt Monday afternoon.
"Bids are higher and utilities still need coal," said a trader.
A panamax cargo of DES ARA contract coal for December was offered at $131/mt
on globalCOAL Monday afternoon.
And a total of 60,000 mt of FOB barge (ARA) contract coal for Q1 and Q2 traded
on globalCOAL at a premium of $5.50/mt and $5.60/mt, respectively, on the
trading platform.
Platts assessed the prompt month December CIF ARA price at $131/mt, up $1, and
FOB Richards Bay at $82/mt, up $1.
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