Confusing sentiment in the coal market over the last couple of days with European markets showing a decidedly bearish outlook off the back of, low gas prices, reduced demand and high stocks. Platts, reports that Dutch terminals, OBA, EMO and OVET are showing stock increases of 49% over this time last year.
The South African market showed a different outlook though with a 50kt parcel of RB1 loading in April, trading at $82.50/mt. This is an increase of $5.90 over the previous relevant trade on 14th February. Argus reported that this was the single largest session-on-session gain in over 10 years for RB1 coal, with their price assessment for spot RB1 now being marked at $80.97, an increase of $6.67 on the day.
The Pacific market remains firm with bad weather at Indonesian ports in Samarinda and Kalimantan preventing trans-shipment of coal loaded by barge onto larger vessels. This output restriction, coupled with continued buying demand from China and India has helped to keep prices in the region firm.