Quite a fall for Newcastle thermal coal to US$62.38 a tonne (AU$99 per tonne, as of posting) on 2nd March. Discussions are now taking place for prices on 1st April and forecasts for a price between US$70 - US$75 now look overly optimistic.Thermal coal spot prices continued to sink out of Newcastle Port. Price fell on Monday to US$73.38 a tonne down from US$78.64 a tonne on the 17/2/09.
1/4/2008 - Price fix for benchmark thermal was US$125 per tonne (AU$134 per tonne).
Spot 23/2/2009 was US$73.38 (AU$106 per tonne).
With thermal coal prices moving to US$61.70 per tonne (AU$96.60 per tonne) the ongoing talks with Japan could prove very difficult indeed. Coal prices in America and Europe are between US$56 to US$58 per tonne.Quite a fall for Newcastle thermal coal to US$62.38 a tonne (AU$99 per tonne, as of posting) on 2nd March. Discussions are now taking place for prices on 1st April and forecasts for a price between US$70 - US$75 now look overly optimistic.
Xstrata, Rio agree to 44% coal price cut with Japan's Chubu
By Fayen Wong and Osamu Tsukimori of Reuters
PERTH/TOKYO - Xstrata and Rio Tinto Ltd have sealed thermal coal contracts with Japan's Chubu Electric for fiscal year 2009/10 at prices as much as 44 per cent lower than a year earlier, coal traders familiar with the negotiations said.
The first major price deal between big Australian coal miners and the Japanese utility, their main customers, normally sets the tone for further negotiations for contracts that cover the April to March Japanese fiscal year, affecting power plant costs and miners' revenues for the year.
The coal sector may well get a lift from the G20 agreement as weaker economies should be inline for bailouts.
Hi m_s, "present prices", that's the problem after the recent run up. In fact, I can't find any "producer" that does not look reasonable at the present time, in the coal sector. Cheers noiHi Noirua, which coal companies do you like at current prices?
MS
Gloucester Coal are in a bid situation and Macarthur Coal have run up on stake building. Centennial and Whitehaven Coal look interesting. Felix Resources have come up on confident rhetoric from the companies MD on profitability at the Moolarben Mine, that is on track to produce in the spring of 2009.Hi m_s, "present prices", that's the problem after the recent run up. In fact, I can't find any "producer" that does not look reasonable at the present time, in the coal sector. Cheers noi
So far so good as ASF members, following coal, see big profits from the above. Thermal coal is pushing on hard, up 20%+ on spot markets, as confidence returns with a big rush. China is buying PCI coal on the spot markets that is helping QLD miners out of a hole.Gloucester Coal are in a bid situation and Macarthur Coal have run up on stake building. Centennial and Whitehaven Coal look interesting. Felix Resources have come up on confident rhetoric from the companies MD on profitability at the Moolarben Mine, that is on track to produce in the spring of 2009.
Pike River Coal are undertaking a rights issue to raise $41 million. If successful, they are also interesting on present hard coke deals by BHP.
High risk is the name of the game in the exploration sector and only risk capital should be used.
Thermal coal is pushing on hard, up 20%+ on spot markets, as confidence returns with a big rush.
Hi Nero64, This link will take you in through the back door: http://www.theice.com/marketdata/getGlobalCOALIndex.do?reportCategory=Indices&reportType=NewcastleHi Noirua,
Is there a link or website where you can see daily spot prices for free. I know Reuters have some info but I couldn't find daily prices.
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