Weekly Coal Index Report
Arctic conditions across much of the Northern hemisphere resulted in higher coal prices over the week, softening as the Chinese new year holiday got underway.
European emissions prices rallied over EUR40 putting pressure on the dark spread. Physical RBCT prices continue to trade at a premium to paper prices, whilst also higher than FOB Newcastle for now.
Australian port stocks are relatively high for this time of year, and with one shiploader at Newcastle now out of action for some months, the overstocking looks likely to continue. This downward pressure on FOB prices, and the increasingly stronger Rand is keeping ZAR coal prices from over reaching at the moment.
A massive 7.3 quake in Japan saw several nuclear and thermal plants shut down, although these are restarting now following reports of little damage.
Asian coal supply chains appear mostly unaffected whilst RBCT stocks are working lower as vessel loading improves as well.
Within South Africa, the Dept. of Environment is fighting off pollution challenges over Eskom dirty air, as the country remains largely mining and big industry centric, finding it difficult to support the development of renewables whilst the sector remains diametrically opposed to coal.
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