Australian and Indonesian thermal coals are facing downward pressure as a result of reduced prices in the Chinese market, caused by lower consumption at coastal plants and decent stockpiles. Derivatives were also trading lower on Chinese exchanges. Although there does seem to be some physical activity going on as some buyers seem prepared to wear the demurrage risk for customs delays in China, on Australian cargos.
March FOB Heard Traded around $41.00 in 75kt Basis 3800NAR
April FOB $41.00 Bid heard in 75kt basis 3800NAR following the above trade
3400 NAR material was heard bid $31.75 for a
1HApril FOB $59.75 Offered in 75kt 4800NAR
May FOB $50.60 Offered 75kt basis 4400NAR