September 17, 2008
Aussie coal prices drop USD 10 on tumbling oil & gas
According to globalCOAL's NEWC weekly index, coal prices for power generators in Australia has dropped by about USD 10 to below USD 152 a tonne in the latest week, dragged down by heavy losses in the international oil and gas markets.
Producers spanning from Indonesia, South Africa and Australia have also been forced to cut their price offers in recent coal tenders in Asia, as some utilities reduced coal usage and switched back to gas. Thermal coal prices fell by USD 9.70 from a week earlier to USD 151.65 a tonne.
Mr Gerard Burg commodities analyst from National Australian Bank said that "I think the coal price index has been taking cue from the oil and gas prices. And with gas prices having fallen so sharply in the past few weeks, many European utilities could be cutting back on coal."
Coal prices have fallen despite bullish demand on a string of coal tenders in Asia and news of supply disruptions in Indonesia, the world's largest thermal coal exporter.
coal prices drop usd 10 on tumbling oil gas
Add MCM (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
16.0¢ |
Change
0.030(23.1%) |
Mkt cap ! $65.26M | |||
| Open | High | Low | Value | Volume |
| 15.5¢ | 16.0¢ | 15.5¢ | $17.69K | 113.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 300000 | 15.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.0¢ | 22569 | 3 |
View Market Depth
| Last trade - 16.10pm 10/05/2024 (20 minute delay) ? |
|
|||||
|
Last
15.5¢ |
Change
0.030 ( 0.00 %) |
||||
| Open | High | Low | Volume | ||
| 15.5¢ | 15.5¢ | 15.5¢ | 8479 | ||
| Last updated 12.05pm 10/05/2024 ? | |||||
| MCM (ASX) Chart |