Combined coal reserves at three terminals in northwest Europe in the Amsterdam-Rotterdam-Antwerp (ARA) trade center continue to grow to set a new 2017 high for this week, reaching 5.8 million tonnes.
This is the highest level recorded since early 2015, according to S&P Global Platts. In addition, several sources report that reserves across the ARA region as a whole are likely to be over 6,000,000 tonnes. It will take some time to normalize the situation as end-user demand is not expected to increase significantly in summer.
The CIF ARA price for coal has slowly declined since its peak in early April, mainly in response to the Asian market, where the underlying sentiment is increasingly bearish. Growth in European trading activity provided some support to prices during the previous week, however, losses are evident.
Platts estimates the CIF ARA thermal coal price of 6,000 kcal /kg NAR for delivery over the next 15-60 days at $ 72.20 /ton, down $ 2.30 over the week.
Low demand pushes ARA coal reserves to high levels
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Azovpromstal® 11 May 2017 г. 10:27 |
