- RIL holds pet coke prices, BPCL, MRPL announce cuts
- Met coke prices unchanged w-o-w amidst mixed market sentiments
Indonesian portside thermal coal prices remain stable amid Diwali holidays
Indonesian portside thermal coal prices were unchanged w-o-w. Participants were absent from the market this week, owing to Diwali, a key Indian festival. Prices of 3400 GAR at Navlakhi remained stable at INR 4,700/t. At Kandla and Vizag, 4200 GAR stood unchanged at INR 5,950/t and INR 5,850/t ex-port, respectively. Additionally, 5000 GAR held steady at INR 7,950/t at Kandla, while at Vizag, high-CV coal was firm at INR 7,800/t.
India: South African coal portside prices stable w-o-w
South African thermal coal portside prices held steady w-o-w, according to BigMint. RB2 (5500 GAR) and RB3 (4800 GAR) were assessed at INR 9,500/t and INR 7,600/t ex-Gangavaram, respectively. Transaction volumes were limited as market participants remained cautious ahead of the festive holidays and amid unclear price signals, leading to a lack of big-ticket deals.
India’s domestic coal prices stable w-o-w
BigMint’s latest assessment shows that prices for 4500 GCV coal are at INR 5,900/t exw-Bilaspur, while 5000 GCV coal holds steady at INR 7,300/t. This stability follows a week of unchanged prices, as buying was limited amid Diwali celebrations. Experts indicate that prices are likely to increase after the festival, drawing on market trends observed over the past decade.
India: Met coke prices remain unchanged w-o-w
India’s domestic met coke prices stayed stable this week, with the 25-90 mm BF-grade assessed at INR 33,400/t ex-works Jajpur, and Gandhidham prices holding at INR 29,600/t, per BigMint.
In the import market, Indonesian met coke offers are firming, currently quoted at $275/t FOB and expected to exceed $300/t CFR for December arrivals due to low port stocks. Meanwhile, Australian coking coal prices rose by 3% w-o-w to $204/t FOB, driven by potential Chinese economic stimulus, although Chinese demand for fixed-price deliveries remains cautious amid mixed market signals.
Chinese met coke producers accepted a RMB 50-55/t price cut, pausing recent consecutive price hikes. With additional price declines anticipated, the market remains uncertain about further adjustments.
India: Bigmint’s coking coal index dips
BigMint’s premium hard coking coal (PHCC) index dropped by $6/t to $216/t CNF Paradip, India, as of 30 October, down from $222/t on 15 October. The seaborne import market remained subdued due to Diwali, with minimal booking activity and low bids as domestic steel prices held steady.
Market participants anticipate improved demand after the festival, though some buyers struggled to meet target prices. Australian coking coal prices, however, rose by 3% w-o-w to $204/t FOB amid potential Chinese stimulus. Additionally, China’s met coke producers accepted a RMB 50-55/t price cut, indicating possible future price decreases.
Australian coking coal prices rise
Australian coking coal prices increased w-o-w by 2% to $203/t FOB Australia. Prices have moved up on expectation of Chinese stimulus. Chinese end-users showed limited interest in procuring forward-delivery cargoes on a fixed-price basis. Uncertainty persists over whether Chinese mills will implement a second round of domestic coke price cuts this week, given mixed market signals. While expectations are rising for new stimulus measures. However, Indian demand remained muted on Diwali holidays
RIL maintains pet coke prices, BPCL & MRPL announce cuts
RIL rolls over pet coke prices at INR 11,637 exw-Jamnagar. Chennai Petroleum Corporation Limited (CPCL) has reduced its pet coke prices for road supply for Nov’24 by INR 500/t to INR 12,040/t, Ex-Chennai. MRPL reduced its pet coke prices by INR 180/t for the month. BPCL has reduced sales prices at its refineries for by up to INR 663/t.
India: Imported pet coke prices edge up
Prices for imported pet coke (6.5% sulfur) rose this week, reaching $95-96/t CFR on India’s west coast and $97-98/t CFR on the east coast, marking a $2-3/t increase w-o-w. Market participants noted stronger demand from Indian buyers as a contributing factor, alongside the impact of a key Saudi mine shutdown that has added upward pressure to prices.
India: Coal vessel freight rates fall w-o-w as trades remain muted
India’s coal vessel freight rates declined this week amid reduced demand as Diwali approaches. Inquiries were limited, and sluggish demand for South African coal further dampened trades. Freight rates from Hay Point Port to Paradip dropped to $15.08/dmt, down $0.2/t w-o-w, while rates from Richards Bay Coal Terminal (RBCT) to Paradip fell to $14.11/t, down $0.05/t w-o-w, according to BigMint data.
Article Credit: Bigmint
