MARKETS

Thermal coal benefits from Indian demand

THERMAL coal prices ticked higher over last week, with FOB Newcastle, FOB Richards Bay and coal d...

Lou Caruana
Thermal coal benefits from Indian demand

The rally in thermal coal prices was primarily driven by emerging buying interest from India, as well as potential industrial action from Colombia and Newcastle, according to RBS Capital Markets.

Metallurgical coal prices were generally flat this week, with the exception of semi-soft coal prices, which declined 1.7%.

“Liquidity has picked up in the spot market this week, but market sentiment was mixed, with some traders optimistic about steel prices, and steel-makers cautious about the near-term outlook,” RBS Capital Markets said in a report.

China's crude steel production reached 64.66 million tonnes – down 3.5% month on month, but up 4.6% year on year.

Average daily crude steel output decreased marginally to 2.155Mt per day, down 0.3% from May, according to RBS.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production