Metallurgical prices continue marching higher, with each index up slightly WoW. Both FOB Australia and CFR China priced at $332/mt.
WoW: FOB Aus +0.9%, CFR China +0.9%
MoM: Fob Aus -0.4%, CFR China +0.9%
YoY: Fob Aus +8.5%, CFR China +1.8%
Seaborne thermal indexes continued their downward trajectory this week despite colder weather across Europe. Prices weakened in the Atlantic Basin, with both API2 and South Africa thermal futures down approximately 6% on the week.
WoW: API2 -6.2%, NEWC -2.5%, S. Africa -6.0%
MoM: API2 -7.0%, NEWC -10.9%, S. Africa -4.6%
YoY: API2 -35.6%, NEWC -65.6%, S. Africa -43.6%
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:
Met market continues looking bullish:
Where will the Chinese domestic coking coal market go in 2024?
China’s coking coal supply restrained by safety checks in 2023
End of year 2023 coal import & export figures:
2024 Outlooks:
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.
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.
CT , Any update on your great valuation comp of two weeks ago?
Eg. Reread and with new insights and on where things have actually been going, we got some cold weather so winter is no longer a total write off and more might still be in store.
(2)
One thing I thought was interesting was that TVA, Tennessee Valley Authority came out with a warning on running low. Remarkable since they are mostly nuke, coal and gas and no green-does-not-work-in-cold-weather stuff (although the gas might become problematic ). It underwrites my thesis that the schedule for replacing coal plants with green or gas is going to be pushed out even more. And with the plausible likelihood we won’t get a 4th term of Obama (through Biden or Mike), delaying the scuttling of coal power plants does make sense for utilities
Coal Trader, would love to hear your thoughts on BTU being added to S&P 600 - given the amount of passive flows coming, front running, and Elliott stopping selling to get better exit liquidity, could this be the big run up? Or are other factors that could hold it down?