The country was Europe’s second-largest supplier of coal for power plants in September
Launceston — The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and Asia.
The price of 5,500kcal/kg Australian coal, which is more relevant to buyers in countries such as India, has also been falling, with commodity price reporting agency Argus assessing it at $161.11 a tonne in the week to October 7. What is also interesting is that the sharp discount on Russian coal exported from the Pacific port of Vostochny has been reversing, suggesting that Russian producers have been able to find sufficient new buyers as traditional customers such as Japan and South Korea trim imports.
SA coal from Richards Bay, with an energy rating of 6,000kcal/kg , has also been softening, dropping to $253.45 a tonne in the week to October 10, down 40.6% from its postinvasion peak of $426.90, while still above the pre-invasion price of $210.79. In September 2021, Russia was the top supplier with 2.49-million, followed by Colombia with 2.15-million, while SA provided a mere 183.093 tonnes.
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