| Export and Import Levels | ||
| Coal prices dip to USD 162 a tonne in Australia - 28 Aug, 2008 | ||
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Coal prices for power generators at Australia have dipped to about USD 162 a tonne in the latest week amid a flurry of trading activity on the globalCOAL electronic platform. Producers and traders said that market participants were cautious ahead of October starting term contract negotiations between Japanese utilities and Australian producers. The globalCOAL's NEWC weekly index showed in the week ended August 23rd 2008 that thermal coal prices fell USD 1.75 from a week earlier to USD 162.15 a tonne. During the last week, a 15,000 tonnes coal shipment for September 2008 delivery was traded at USD 155 per tonne on globalCOAL, while there were 15 trades for November 2008 delivery coal done at about USD 162 and 14 deals for December 2008 shipping coal traded at about USD 164. Some Australian producers said that Japanese buyers have offered to pay a headline price of about USD 160 a tonne and were open to conditions, such as cancellation of outstanding 2008 tonnage that would bring the real value of the contracts to about USD 165. Coal supplies for 2009 delivery are trading at above USD 165 a tonne on the globalCOAL swap market. | ||
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