In the Indonesian market prices continued to firm, picking up from where they left-off on Friday. Newcastle, however, was trading lower.
In the Chinese market, 21 workers were killed when a roof collapsed at a mine in Shaanxi province on Saturday. Also, some mining companies in the Henan and Shandong provinces, as well as some in North Eastern China have had their operations halted by the National Coal Mine Safety Administration in order to undergo safety inspections. It is believed this will continue until June. Chinese domestic coal futures gained on the news that supply could potentially tighten.
In the South African market there was little action as Australian coal was seen pricing more favourably into the Asian markets. Although some demand was seen for a 4800NAR cargo but no corresponding offers were to be found.
Recent Heard Markets
February FOB TRADES at $50.50 in 75kt 5000GAR (Unconfirmed)
February FOB TRADES at $33.00 in 75kt 3800NAR
February FOB TRADES at $33.40 in 75kt 3800NAR
February FOB $19.00 Bid 50kt G&G Vessel 3000NA
February FOB Newcastle TRADES $95.50 in 50kt 6000NAR
February FOB Newcastle TRADES $96.00 in 50kt 6000NAR
Feb FOB Newcastle $60.00 Offered 75kt 5500NAR