AGL 38.50 Increased By ▲ 0.93 (2.48%)
AIRLINK 131.76 Decreased By ▼ -0.74 (-0.56%)
BOP 5.59 Decreased By ▼ -0.05 (-0.89%)
CNERGY 3.84 Increased By ▲ 0.07 (1.86%)
DCL 8.65 Decreased By ▼ -0.22 (-2.48%)
DFML 40.80 Decreased By ▼ -0.20 (-0.49%)
DGKC 89.05 Decreased By ▼ -1.11 (-1.23%)
FCCL 35.25 Increased By ▲ 0.17 (0.48%)
FFBL 66.48 Decreased By ▼ -0.02 (-0.03%)
FFL 10.45 Increased By ▲ 0.30 (2.96%)
HUBC 109.40 Increased By ▲ 3.00 (2.82%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.80 Decreased By ▼ -0.06 (-1.23%)
KOSM 7.07 Increased By ▲ 0.22 (3.21%)
MLCF 42.48 Increased By ▲ 0.68 (1.63%)
NBP 59.49 Increased By ▲ 0.91 (1.55%)
OGDC 183.70 Increased By ▲ 2.45 (1.35%)
PAEL 25.55 Decreased By ▼ -0.15 (-0.58%)
PIBTL 5.91 Increased By ▲ 0.08 (1.37%)
PPL 147.02 Decreased By ▼ -1.38 (-0.93%)
PRL 23.51 Increased By ▲ 0.29 (1.25%)
PTC 16.50 Increased By ▲ 1.26 (8.27%)
SEARL 69.50 Increased By ▲ 0.71 (1.03%)
TELE 7.25 Increased By ▲ 0.01 (0.14%)
TOMCL 35.77 Decreased By ▼ -0.23 (-0.64%)
TPLP 7.51 Increased By ▲ 0.11 (1.49%)
TREET 14.10 Decreased By ▼ -0.14 (-0.98%)
TRG 50.90 Increased By ▲ 0.05 (0.1%)
UNITY 26.87 Increased By ▲ 0.47 (1.78%)
WTL 1.23 Increased By ▲ 0.02 (1.65%)
BR100 9,812 Increased By 43.8 (0.45%)
BR30 29,768 Increased By 368.4 (1.25%)
KSE100 92,329 Increased By 391.3 (0.43%)
KSE30 28,832 Increased By 88.7 (0.31%)

LAUNCESTON, (Australia): Seaborne thermal coal prices in Asia climbed to fresh record highs last week, with early signs of rising exports not enough to eclipse concerns over coal shortages in top importers China and India.

The benchmark price for Australian high-grade thermal coal at Newcastle Port, as assessed by commodity price reporting agency Argus, jumped to $229.11 a tonne for the week to Oct. 8, a 12.5% increase on the prior week's close.

The index has risen by almost 160% since the week to April 30, when it ended at $88.52 and was the last week the price fell from the prior seven-day period.

The benchmark 6,000 kilocalorie per kilogram (kcal/kg) coal, most popular with Japanese and South Korean utilities, has now gained almost 400% since September last year, when it slumped to a 14-year low at the height of economic lockdowns across Asia to combat the coronavirus pandemic.

It's not just Australian thermal coal that has surged, with lower-quality 4,200 kcal/kg Indonesian supplies actually outperforming, with the index reaching a fresh record high of $122.08 a tonne in the week to Oct. 8.

This is up 439% since the 2020 low of $22.65 a tonne, with China being the driver of the strong gains after traders and utilities switched to Indonesian cargoes after Beijing imposed an informal ban on buying from Australia amid an ongoing political dispute with Canberra.

For thermal coal, Australia used to be China's second-biggest supplier behind Indonesia, with the most popular grade being 5,500 kcal/kg cargoes.

Comments

Comments are closed.