India: Indonesian portside coal prices remain stable w-o-w
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- Indian market silent during festive holidays
- Chinese buyers bidding at lower price levels
Indonesian portside thermal coal prices recorded at same levels this week. Market participants are out of market owing to Diwali festival holidays this week. Some low-grade CV imports have been scheduled at Navlakhi port in the mid-November. Some buyers are planning to resume work from the next week.
Prices of the 3400 GAR at Navlakhi remained stable at INR 4,700/t. However, at Kandla and Vizag, prices of the 4200 GAR stood stable at INR 5,950/t and INR 5,850/t ex-port respectively. Additionally, prices of 5000 GAR at Kandla remained flat at INR 7,950/t while at Vizag Port high-CV coal remained stable at INR 7,800/t.
In China, market players are asking for bigger discount in the thermal coal prices, but in vain as there are many buyers present in the market keeping the prices at similar levels, as per sources informed BigMint.
Indonesian miners are holding thermal coal prices at similar levels expecting demand will resume from India post Diwali festival holidays. Trading activities are lower due to bid-offer disparity from China and weak market sentiment in India.
Meanwhile, Indonesian prices of high-CV (5800 GAR) coal were recorded at $93.85/t, up slightly by $0.05/t. However, mid-CV (4200 GAR) coal prices decreased by $0.09/t to $52.22/t, low-CV (3400 GAR) was also recorded at $32.28/t, down by $0.1/t. All prices are on an FOB basis.
