February 24, 2014 – Market sources reported two imported trades of mid-calorific value to deliver thermal coal in South China during Friday’s trading session, which supported CFR prices. The Fenwei/Platts CFR South China price was evaluated on Friday at $76.40/mt basis 5,500 kcal/kg NAR. However, the price excluded 17% VAT, and was 10 cents higher than on Thursday. On the other hand, CFR South China price for Platts only remained steady for the day at $76.50/mt CRF.
One of the trades on Friday was for Capesize, to arrive in March, of Australian 5500 kcal/kg NAR thermal coal struck at a price between $76.25 and $76.50/mt CFR South China. The other import trade was for another cargo, to arrive in April, from Australia and thermal coal calorific value at $77/mt, reported the Chinese traders. The offer and bid prices for cargoes from South Africa and Australia had further narrowed during the trade week, demonstrating a tight band of $76-77/mt CFR South China.
One of the trades on Friday was for Capesize, to arrive in March, of Australian 5500 kcal/kg NAR thermal coal struck at a price between $76.25 and $76.50/mt CFR South China. The other import trade was for another cargo, to arrive in April, from Australia and thermal coal calorific value at $77/mt, reported the Chinese traders. The offer and bid prices for cargoes from South Africa and Australia had further narrowed during the trade week, demonstrating a tight band of $76-77/mt CFR South China.
