| Export and Import Levels | ||
| Thermal coal prices reach record levels at RBCT and Newcastle - 08 Jul, 2008 | ||
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It is reported that thermal coal prices at world’s two most important export ports, Richards Bay in South Africa and Newcastle in Austrlia, have reached record levels, amid limited global supplies and strong demand. According to McCloskey Group Ltd, Richards Bay export prices advanced by USD17.80 or 11% to an average of USD 176.80 per tonne in the week ended July 4th 2008. According to the globalCOAL NEWC Index, the coal prices at Newcastle port increased by USD 22.69 to USD 194.79 per tonne in the week ended July 4th 2008. Citigroup Inc cited supply constraints in a report and raised estimates for benchmark power coal to USD 200 per tonne in the 2009 Japanese financial year starting on April 1st 2008 from a previous estimate of USD 80. Global coal supplies may shrink further. Vietnam will cut overall exports for the fuel by as much as 38% this year to ensure domestic supplies. China, the biggest buyer of Vietnamese coal, faces power shortages and is rationing electricity in Shanxi, its largest coal-producing province. That may curb Chinese coal exports and boost imports of the fuel. | ||
| Export And Import Levels | ||
 | Coal prices dip to USD 162 a tonne in Australia | |
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| Chinese HDG exports price witness rebound | |
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| Chinese rebar export market remain slow | |
| Trade Issues | ||
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| Indian steel companies push for iron ore export tax hike | |
