Kolkata, India — MININGREVIEW.COM — 11 October 2010 – South African coal exports to China in September plunged well below the previous month, while shipments to India increased from a month earlier, according to Web-based trader mjunction Services Limited, which is backed by Tata Steel Limited and Steel Authority of India Limited.
The company revealed in a statement issued here that China’s purchases had fallen by about 85% to 145 312t from August, while India had purchased 1.87 Mt, “’14% higher than the previous month.
It added that Asian coal purchases from South Africa had dropped 26% to 3.32Mt in September from August because of a decline in Chinese and Japanese purchases, while European imports rose 60% to more than 1Mt, led by France and Italy. Purchases by Asia until September were about 32Mt, and Europe’s imports were 6.8 million.
At Richards Bay Coal Terminal “’ Africa’s biggest coal export facility “’ shipments fell 1.6% in September from a month earlier, according to data on the terminal’s website. It shipped 5.36Mt in September, down from 5.45Mtin August. The terminal had stocks of 4.3Mt at the end of last month.
Prices for the fuel shipped through the terminal rose 42% to an average US$86.24/t in September from September 2009, according to data from Hampshire, U.K.- based research firm IHS McCloskey. Prices rose to US$87.85/t in the week to 1 October.