Please do me a favor. If you’re on LinkedIn give TheCoalTrader a follow:
https://www.linkedin.com/company/thecoaltrader/
Australian hard coking coal prices were down about half a percent on the week, with the FOB Australian index at $314.25/mt and CFR China index now priced at $314.50/mt.
WoW: FOB Aus -0.6%, CFR China -0.5%
MoM: Fob Aus -5.3%, CFR China -5.3%
YoY: Fob Aus -15.1%, CFR China -19.4%
Since price relativities are becoming more important for the industry, the following chart will be included in weekly updates:
Seaborne thermal coal indexes in the Asian-Pacific market bounced this week, while API2 (Europe) continued to decline.
WoW: API2 -1.2%, NEWC +1.6%, S. Africa +4.3%
MoM: API2 -0.4%, NEWC +6.5%, S. Africa +1.6%
YoY: API2 -40.5%, NEWC -38.9%, S. Africa -35.5%
Since a few coal producers have been complaining about high ocean transportation costs, I figured the following chart was pertinent:
Weekly News & Summary
Here’s the weekly rundown of the most important Coal News and Market information which I’ve curated for free and paid subscribers.
Earnings Updates:
Coking Coal Market Updates:
Coking Coal Prices Surge on Rumors of Shanxi Production Cuts
Shanxi Vice Governor Calls for 50-70Mt Coal Production Reduction in 2024
Thermal Coal Market Updates:
Indonesian thermal coal exports scale new highs in early 2024
PRB Coal Slips in 2023, Expected to Resume Long-Term Decline
Steel Market Updates:
Companies Making Moves:
New Hope Says Will Alternate Bengalla Mine Output to Get Best Margins
India’s JSW Steel in talks with Whitehaven for coal mine stake
New Hope boosts stake in Malabar Resources with $180M equity raise
Premium Updates
Warrior Post-Earnings Thoughts (or linked here)
Warrior Earnings Call Notes (website only, linked here)
Arch Post-Earnings Thoughts (or linked here)
Arch Earnings Call Notes (website only, linked here)
Coming Soon:
Alpha Earnings Call Notes
Alpha Post Earnings Thoughts
Ramaco Earnings Call Notes
Ramaco Post Earnings Thoughts
For those who want more coal analysis and content, check it out here. I’m offering a discount for all TheCoalTrader readers, use code TCT2000 for 15% off the Annual Premium Bundle.
Please let me know if you have any questions with regards to strategy and positioning, or anything coal related. I try to answer every question for subscribers.
Nothing in this Site constitutes professional and/or financial advice, nor does any information on this Site constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. The author of this Site is not a fiduciary by virtue of any person's use of or access to this Site or its Content.
Coal Trader, just wondering if you had any thoughts on the recent "rally" in Newcastle from 114 to 132, especially re: what might be driving that and if it might change your outlook from back when you issued the warning on Thermal coal?
Coal Trader, any thoughts on AMR earnings? Or is that coming soon?