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June RBCT coal stocks climb from 2.5-year low in May

05 Jul 2013 13:17:05 | csd

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Coal stocks at South Africa's Richards Bay Coal Terminal (RBCT) increased by 22% to 2.85m tonnes at the end of June, but remain below the average end-of-month total for 2013 so far, operator data out on Thursday shows.

Coal in store at the end of May hit a two-and-half year low for end-of-month stocks because of maintenance work on the rail lines into the port. The end-of-month total for June is still below the average for 2013 so far of 3.5m. The maintenance work on the rail ended on 24 May and the quantity of coal transported into the terminal increased by 65% to 5.68m tonnes in June month on month.

The lower amount of coal in stock at the end of May meant June-loading cargoes sold above July and August ones in late May and early June. The last sale of a June-loading cargo for 6,000Kcal/kg NAR coal reported to ICIS went for $83/tonne on 4 June. On the same day, an August-loading cargo was sold for $81.50/tonne.

RBCT said 5.3m tonnes of coal was exported during June, almost 1m tonnes more than in May. It is still well below the March and April figures of 7.79m tonnes and 6.24m tonnes.

On the spot FOB Richards Bay (RB) physical market during June, the volume of July-loading cargoes of 6,000Kcal/kg NAR coal sold was 925,000 tonnes, which is below the volume for June-loading cargoes sold in May of 1.08m tonnes.

So far this week, four July-loading cargoes were sold at FOB RB with a total volume of 125,000 tonnes. Not all the coal exported from RBCT is sold on the spot market or is 6,000Kcal/kg NAR-standard coal. Fionn O'Raghallaigh

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