Discount for Russian coal fell to 30-35%
[ad_1]
According to the results of February, the discount for Russian coal decreased to 30-35%, follows from the report (.pdf) Energy Development Center (CRE). In 2022, the discount reached 60%, and at the end of November it was about 50%.
According to the CRE, the decline in world prices for thermal coal was caused by a warm winter and a sharp drop in gas prices in Europe, which reduced demand for coal. The center claims that “Russian coal prices have not fallen as much” as, for example, the cost of Australian coal or fuel quotes in Europe.
The loading of coal through the border crossings between Russia and China in February, according to preliminary data, almost doubled compared to November 2022, to 1.1 million tons. The CED believes that the speed of China’s economic reopening will be “an important driver for production in the coming months.”
Against the backdrop of a warm winter and low demand in China, Russian thermal coal is becoming cheaper in the most marginal direction, the eastern direction. The range of prices depending on the calorific value is $104-135 per ton. Coal companies expect further price cuts and reduce production of energy coal grades.
Details – in the publication “Kommersant” “Russian coal becomes cheaper in ports”.
[ad_2]
Source link