South Africa Coal Prices Up By Nearly 18% Despite Stable Demand

From Coal Guru

Business Line reported that at a time when miners worldwide are complaining of a slowdown in demand, thermal or steam coal prices have shot up nearly 18% in last month in South Africa.

South Africa is India’s second largest source of imports, after Indonesia. In 2011 India imported approximately 65 million tonnes of coal from Indonesia and 17 million tonne from South Africa, for electricity generation.

Between November 1 and November 30, the price of 6,000 kilo calories (net, as received) of South African coal increased by nearly 17% from USD 77 a tonne to USD 90. Prices further inched up by USD 1 to USD 91 a tonne in the first two days of December.

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