DCE Level
Sep: 2016 up 36
Coking Coal Index
TSI FOB PLV up 3.0 at 112; mtd 109.57
CFR China (PLV) up 8.50 at 256.50
Indicative Curve (FOB)
BID OFFER VALUE
MAY 115.00 117.00 116.00
JUN 124.00 126.00 125.00
JUL 125.50 127.50 126.50
AUG 127.00 129.00 128.00
Q3-21 127.00 129.00 128.00
Q4-21 134.00 136.00 135.00
Q1-22 144.00 146.00 145.00
Q2-22 145.00 147.00 146.00
CAL-22 144.00 148.00 146.00
CAL-23 146.50 150.50 148.50
CFR
MAY 234.00 254.00 244.00
JUN 244.00 264.00 254.00
JUL 229.00 249.00 239.00
Trades
May at 115.50 in 7kT
June at 124 in 5kT
May at 116 in 10kT
Q4 at 135 in 2kTmth
Comment
The hunt for offers continued today and this had a knock effect on the physical market. 2 physical trades reported both at higher levels. June low vol traded at 113 and then June branded (mid vol) up at 120. CFR prices rose above $250, with both US and Canadian coal trading. The Australian FOB mid vol trade appearing to follow the CFR trade as it did yesterday. The question is can this trend continue? The index only rose $3 to 112 so we still need to see low vol offers find new homes to keep up the momentum. Meanwhile, June paper surged trading at 124 and Q4 traded 135, $5 higher than late last week.
David Powell
Email: DavidP@freightinvestor.com
Mobile: (+44) 7548 716464
Eikon: DavidP@freightinvestor.com