Metallurgical coal prices slid approximately $15/mt on the week, with both the FOB Australian and CFR China index now priced at $315.50/mt (-5.0% WoW).
WoW: FOB Aus -5.0%, CFR China -5.0%
MoM: Fob Aus -4.1%, CFR China -4.1%
YoY: Fob Aus -9.3%, CFR China -14.3%
Seaborne thermal coal indexes attempted to stabilize from the relentless downtrend this week. European (API2) prices bounced 5%, Newcastle prices bounced 2.3% and prices in South Africa were flat on the week.
WoW: API2 +5.0%, NEWC +2.3%, S. Africa 0.0%
MoM: API2 -15.2%, NEWC -8.1%, S. Africa -8.3%
YoY: API2 -29.0%, NEWC -49.2%, S. Africa -37.5%
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.
Alliance Kicks off Earnings Season in the US
Chinese Steel Industry Updates
India Supply & Demand News
Indian Power Giant Still Needs More Coal Despite Green Pledge
India’s petroleum coke consumption rose 13% in December 2023
India to increase coal-fired capacity in 2024 by the most in at least 6 years
More on the Transnet Situation
Decline in coal line security incidents is improving Transnet performance
Transnet says rail volumes recovered slightly in the last quarter of 2023
Thungela desperately needs Transnet to lift its game this year
Inside Baseball on the Appalachian Coal Industry
West Virginians Could Get Stuck Cleaning Up the Coal Industry’s Messes
Gov. Jim Justice Is Beloved in West Virginia, Just Not by His Creditors
New Coal Projects & Updates
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