Traders concern of low price set by Chinese buyers
Wednesday, September 19 2012 - 09:40 AM WIB
A number of coal traders have expressed concerns over the low price of coal set by Chinese buyers for October delivery.
Chinese buyers have set price of coal with CV 5,100 ? 5,500 kcal/kg (ADB) at US$32 per ton, lower than the current price of between $33 and $36 per ton.
?It is difficult to get coal at $32 per ton as asked by some buyers from China,? a trader who declined to be named told Petromindo.com.
The trader said that most coal miners producing coal with CV of 5,000 kcal/kg (GAR) and maximum Sulphur of 1 percent set the price at between $60 and $63 per ton for the October?s delivery. The trader said that the price, which is offered by producers are too high, considering the current market price.
The trader said that the price for CV 5000 (GAR) is about mid $50 per ton.
Editing by Adianto P. Simamora