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Asian Coal Price Ranges, Apr 25

The document provides an overview of coal price trends in various regions as of April 25, 2025, highlighting a general decline in prices due to weak demand, particularly in Australia and China. It notes a divergence in Indonesia between high and low-rank coal, with high-grade coal prices firming while low-rank coal faces buyer resistance. Key takeaways indicate bearish momentum across most markets, with potential risks of further price declines if demand remains weak, especially in China.

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Linus Lobo
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100 views18 pages

Asian Coal Price Ranges, Apr 25

The document provides an overview of coal price trends in various regions as of April 25, 2025, highlighting a general decline in prices due to weak demand, particularly in Australia and China. It notes a divergence in Indonesia between high and low-rank coal, with high-grade coal prices firming while low-rank coal faces buyer resistance. Key takeaways indicate bearish momentum across most markets, with potential risks of further price declines if demand remains weak, especially in China.

Uploaded by

Linus Lobo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Asian Coal Price Ranges, Apr 25

Source: McCloskey Week so Far

(FOB unless stated)

AUSTRALIA (Newcastle)

Energy (kcal/kg) Week Ending Bids ($/t) Offers ($/t) Trades ($/t)
6,000 NAR 4 Apr 2025 88.00−102.50 94.00−114.50 $96.75
11 Apr 2025 86.50−98.00 91.50−103.50 90.75−101.00
18 Apr 2025 88.00−98.50 94.80−102.00 88.35−90.50
25 Apr 2025 87.25−94.00 91.25−98.75 90.00−92.05
5,500 NAR 4 Apr 2025 70.00−73.00 $73.00 $70.00
11 Apr 2025 70.00−72.00 $71.50 $71.00
18 Apr 2025 - - -
25 Apr 2025 API5 +$1.00 - -

INDONESIA

Energy (kcal/kg) Week Ending Bids ($/t) Offers ($/t) Trades ($/t)
5,800 GAR 4 Apr 2025 - $80.00 (Trade) $80.00
11 Apr 2025 - - -
18 Apr 2025 - 81.00−83.50 -
25 Apr 2025 - $82.00 -
4,200 GAR 4 Apr 2025 48.00−49.00 49.50−50.50 $50.50
11 Apr 2025 48.00−48.25 49.00−51.00 -
18 Apr 2025 47.00−47.50 45.00−52.50 46.10−48.50
25 Apr 2025 - 46.75−60.00 47.50−48.50
3,800 GAR 4 Apr 2025 - 42.50−43.70 -
11 Apr 2025 - - $37.00
18 Apr 2025 $40.00 $39.00 -
25 Apr 2025 $36.50 42.00−42.30 $42.00

SOUTH AFRICA

Energy (kcal/kg) Week Ending Bids ($/t) Offers ($/t) Trades ($/t)
6,000 NAR 25 Apr 2025 $82.00 $85.00 (unconfirmed) -
5,500 NAR 4 Apr 2025 73.00−74.00 75.00−76.00 -
18 Apr 2025 73.00−74.50 75.50−77.50 -
25 Apr 2025 $72.00 75.00−76.00 -
OTHER REGIONS

Region Energy Week Bids Offers ($/t) Trades ($/t)


(kcal/kg) Ending ($/t)
India 5,750 NAR 25 Apr - - $86.00
(CFR) 2025 (unconfirmed)
China 3,800 NAR 25 Apr - RMB335 - -
(DDP) (RMB/t) 2025 RMB469

Analysis of Global Coal Price Trends (April 2025)

1. Australia (Newcastle) – Declining Prices Amid Weak Demand

• 6,000 kcal/kg NAR: Prices softened over the month, with trades dropping from 96.75/t
(earlyApril) to 90.00-92.05/t (late April).
o Bid-Offer Spread: Narrowed slightly, with bids at 87.25−94.00/t and offers at
91.25-98.75/t in late April, indicating cautious market sentiment.
o Index-Linked Discounts: Buyers pushed for deeper discounts (e.g., Newc minus
$7.50/t for July), suggesting weakening demand or oversupply.
• 5,500 kcal/kg NAR: Thin trading, with bids tied to API5 +$1.00/t by late April, reflecting
stable but subdued interest.

2. Indonesia – Divergence Between High & Low-Rank Coal

• High-Grade (5,800 GAR): Offers firmed to $82.00/t (late April), possibly due to
tightening supply or regional demand.
• Low-Rank (3,800-4,200 GAR):
o Trades held steady at 42.00−50.50/t, but offers for 4,200GAR spiked to
60.00/t (late April), likely due to short-term demand.
o Bids remained weak (e.g., $36.50/t for 3,800 GAR), signaling buyer resistance.
• Index-Linked Deals: Some trades settled at flat indices, suggesting price floors for low-
energy coal.

3. South Africa – Stable but Lower Bids

• 6,000 kcal/kg NAR: Only one bid at 82.00/t (lateApril), within confirmed offers at
85.00/t, indicating limited liquidity.
• 5,500 kcal/kg NAR: Bid -offer spreads tightened (72.00−76.00/t), but bids dipped rom
73.00/t (early April) to $72.00/t, possibly due to competition from Australian coal.

4. China – Domestic Weakness Dragging Down Imports


• DDP Tenders (RMB): Collapse in offers for 3,800 kcal/kg NAR (from RMB458-
499/t to RMB335-469/t) points to:
o Subdued Industrial Demand: Weak steel/power sector activity.
o High Inventories: Reduced urgency for imports.
• High-Grade (5,500+ kcal): Awards at RMB678-689/t (late April) suggest selective buying
for quality coal.

5. India & Other Markets – Quiet but Competitive

• India: Single unconfirmed trade at $86.00/t CFR for Colombian coal, hinting at price
sensitivity.

Key Takeaways

• Bearish Momentum: Most regions saw price declines, led by China’s weak demand and
ample supply.
• Quality Divergence: High-energy coal (6,000+ kcal) fared better than low-rank, but even
Newcastle faced downward pressure.
• Geopolitical/Local Factors: Indonesia’s low-grade coal held up better, possibly due to
domestic use or Southeast Asian demand.

Outlook

• Downside Risks: If China’s demand stays weak, prices may slide further, especially for
low-energy coal.
• Potential Support: Any rebound in Chinese industrial activity or supply disruptions (e.g.,
Australian labor issues) could stabilize prices.
McCloskey WEEK SO FAR – Week ending 25 April 2025

AUSTRALIA
Newcastle
TRADE: $92.05/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $94.00/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: $98.65/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: $98.75/t FOB, basis 6,000 kc NAR, Jul, 25kt
BID: $90.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $92.05/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $87.25/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $91.25/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $92.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: $97.75/t FOB, basis 6,000 kc NAR, Jul, 25kt
TRADE: $91.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
TRADE: $90.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $93.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: $97.60/t FOB, basis 6,000 kc NAR, Jul, 25kt
----------------
Index-linked
BID: Newc minus $6.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: Newc minus $3.00/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: Index minus $4.75/t, basis 6,000 kc NAR, Jun, 25kt
OFFER: Index minus $4.00/t, basis 6,000 kc NAR, Jul, 25kt
BID: Index minus $7.50/t, basis 6,000 kc NAR, Aug, 25kt
OFFER: Index minus $1.25/t, basis 6,000 kc NAR, Aug, 25kt
OFFER: Newc minus $4.75/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: Newc minus $7.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: Newc minus $3.00/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: Newc minus $4.00/t FOB, basis 6,000 kc NAR, Q3-2025, 25kt/mth
OFFER: Newc plus $1.00/t FOB, basis 6,000 kc NAR, Q4-2025, 25kt/mth
OFFER: Newc minus $5.25/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: Newc minus $7.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: Newc minus $3.25/t FOB, basis 6,000 kc NAR, Jul, 25kt
-----------
5,500 kc NAR
BID: API5 plus $1.00/t FOB, basis 5,500 kc NAR, May, Cape/Panamax
BID: API5 plus $1.00/t FOB, basis 5,500 kc NAR, Jun, Cape/Panamax
______________
INDONESIA
Sub-bituminous/Bituminous
OFFER: $82.00/t FOB, basis 5,800 kc GAR, May, geared
OFFER: $83.50/t FOB, basis 5,800 kc GAR, May, Panamax
OFFER: $60.00/t FOB, basis 4,400 kc NAR, May, Panamax

TRADE: $66.00/t FOB, basis 5,000 kc GAR, May, Panamax

----------
Low-rank
4,200 kc GAR
OFFER: $46.75/t FOB, basis 3,700 kc NAR, May, geared
OFFER: $60.00/t FOB, basis 4,400 kc NAR, May, Panamax
OFFER: $49.50/t FOB, basis 3,700 kc NAR, Jun, geared
OFFER: $49.00/t FOB, basis 3,800 kc NAR, May, Panamax

TRADE: $48.50/t FOB, basis 3,800 kc NAR, May, Panamax


OFFER: $48.00/t FOB, basis 3,700 kc NAR, May, Panamax

TRADE: $47.50/t FOB, basis 3,800 kc NAR, May, geared


----------
3,800 kc GAR
BID: $36.50/t FOB, basis 3,300 kc NAR, May, geared
OFFER: $42.30/t FOB, basis 3,800 kc GAR, May, Panamax
TRADE: $42.00/t FOB, basis 3,800 kc GAR, May, Panamax
----------------
3,400 kc GAR
OFFER: $34.00/t FOB, basis 3,300 kc GAR, Apr/May, geared
----------------
Index-linked
BID: Index plus $0.25/t FOB, basis 4,200 kc GAR, May, Handymax
OFFER: Index plus $0.50/t FOB, basis 4,200 kc GAR, June, Handymax
TRADE: Index plus $0.30/t FOB, basis 5,000 kc GAR, May, Panamax
___________
INDIA
UNCONFIRMED TRADE: $86.00/t CFR, basis 5,750 kc NAR, Colombian, prompt, Cape
__________
SOUTH AFRICA
5,700 kc NAR min
BID: $82.00/t FOB, basis 6,000 kc NAR, Jun, 50kt
UNCONFIRMED OFFER: $85.00/t FOB, basis 6,000 kc NAR, May-Jun, 50kt
---------
5,500 kc NAR
BID: $72.00/t FOB, basis 5,500 kc NAR, May/Jun, 50kt
UNCONFIRMED OFFER: $75.00-76.00/t FOB, basis 5,500 kc NAR, May-Jun, Panamax
------------
4,800 kc NAR
OFFER: $62.00/t FOB, basis 4,800 kc NAR, May, 50kt
_______________
CHINA
TENDER OFFER: RMB355/t DDP, basis 3,000 kc NAR, Indonesian, Jun, Panamax
TENDER OFFER: RMB458/t DDP, basis 3,800 kc NAR, Indonesian, Jun, Panamax
TENDER OFFER: RMB459/t DDP, basis 3,800 kc NAR, Indonesian, Jun, Panamax
TENDER OFFER: RMB464/t DDP, basis 3,800 kc NAR, Indonesian, Jun, Panamax
TENDER OFFER: RMB465/t DDP, basis 3,800 kc NAR, Indonesian, Jun, Panamax
TENDER OFFER: RMB467/t DDP, basis 3,800 kc NAR, Indonesian, Jun, Panamax
TENDER OFFER: RMB469/t DDP, basis 3,800 kc NAR, Indonesian, Jun, Panamax
TENDER OFFER: RMB579/t DDP, basis 4,500 kc NAR, Unknown, Jun, Panamax
TENDER OFFER: RMB559/t DDP, basis 4,500 kc NAR, Unknown, Jun, Panamax
TENDER OFFER: RMB549/t DDP, basis 4,500 kc NAR, Unknown, Jun, Panamax
TENDER OFFER: RMB568/t DDP, basis 4,600 kc NAR, Unknown, Jun, Panamax
TENDER OFFER: RMB554/t DDP, basis 4,600 kc NAR, Unknown, Jun, Panamax
TENDER OFFER: RMB557/t DDP, basis 4,600 kc NAR, Unknown, Jun, Panamax
TENDER OFFER: RMB679/t DDP, basis 5,300 kc NAR, Unknown, Jun, Panamax
TENDER OFFER: RMB689/t DDP, basis 5,500 kc NAR, Unknown, Jun, Panamax
TENDER OFFER: RMB678/t DDP, basis 5,500 kc NAR, Unknown, Jun, Panamax
TENDER OFFER: RMB401/t DDP, basis 3,400 kc NAR, Indonesian, Jun, Supramax
TENDER OFFER: RMB568/t DDP, basis 4,700 kc NAR, Unknown, Jun, Supramax
TENDER OFFER: RMB686/t DDP, basis 5,500 kc NAR, Unknown, Jun, Supramax
TENDER OFFER: RMB411/t DDP, basis 3,400 kc NAR, Indonesian, Jun, Supramax
TENDER OFFER: RMB689/t DDP, basis 5,500 kc NAR, Unknown, Jun, Supramax
TENDER OFFER: RMB391/t DDP, basis 3,400 kc NAR, Indonesian, Jun, Panamax
TENDER OFFER: RMB558/t DDP, basis 4,700 kc NAR, Unknown, Jun, Panamax
TENDER OFFER: RMB451/t DDP, basis 3,800 kc NAR, Indonesian, Jun, Panamax
TENDER OFFER: RMB387/t DDP, basis 3,400 kc NAR, Indonesian, Jun, Panamax
TENDER OFFER: RMB450/t DDP, basis 3,800 kc NAR, Indonesian, Jun, Panamax
TENDER OFFER: RMB562/t DDP, basis 4,700 kc NAR, Unknown, Jun, Panamax
TENDER OFFER: RMB335/t DDP, basis 3,000 kc NAR, Indonesian, Jun, Panamax
TENDER OFFER: RMB624/t DDP, basis 5,200 kc NAR, Indonesian, Jun, Panamax
TENDER AWARD: RMB678/t DDP, basis 5,500 kc NAR, Russian, Jun, Panamax
TENDER AWARD: RMB689/t DDP, basis 5,500 kc NAR, Australian, Jun, Panamax

McCloskey/Xinhua Infolink

Chinese markers

QHD FOB Marker - $/t

11-Apr-25 18-Apr-25 25-Apr-25

5,000kc NAR 82.25 82.00 81.64

or 4,700kc NAR 77.31 77.09 76.75

5,500kc NAR 93.32 92.85 91.89

5,800kc NAR 102.78 102.65 102.27

or 6,000kc NAR 106.33 106.19 105.79

QHD FOB Marker -


RMB/t

5,000kc NAR 593 591 588

or 4,700kc NAR 557 556 553

5,500kc NAR 673 669 662

5,800kc NAR 741 740 737

or 6,000kc NAR 767 765 762


Note: FOB prices include domestic taxes

Freight - $/t

QHD to Shanghai 3.35 3.74 3.75

QHD to GZ 5.62 6.09 6.16


McCloskey WEEK SO FAR – Week ending 17 April 2025

AUSTRALIA
Newcastle
TRADE: $90.50/t FOB, basis 6,000 kc NAR, May, 25kt
TRADE: $90.50/t FOB, basis 6,000 kc NAR, May, 25kt
BID: $91.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $96.05/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $96.00/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: $102.00/t FOB, basis 6,000 kc NAR, Jul, 25kt
TRADE: $88.35/t FOB, basis 6,000 kc NAR, May, 25kt
BID: $88.00/t FOB, basis 6,000 kc NAR, May, 25kt
BID: $91.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $95.85/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $95.75/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $95.00/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: $100.75/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: $89.25/t FOB, basis 6,000 kc NAR, May, 25kt
BID: $92.50/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $92.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $94.80/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $98.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: $100.75/t FOB, basis 6,000 kc NAR, Jul, 25kt
BID: $91.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $95.50/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $94.00/t FOB, basis 6,000 kc NAR, Jul, 25kt
----------------
Index-linked
BID: Newc minus $10.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: Newc minus $4.50/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: Newc minus $5.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: Newc minus $4.00/t FOB, basis 6,000 kc NAR, Jul, 25kt
BID: Index minus $12.25/t, basis 6,000 kc NAR, Jun, 25kt
OFFER: Index minus $3.85/t, basis 6,000 kc NAR, Jul, 25kt
BID: Index minus $12.75/t, basis 6,000 kc NAR, Jun, 25kt
OFFER: Index minus $4.50/t, basis 6,000 kc NAR, Jun, 25kt
OFFER: Index minus $3.85/t, basis 6,000 kc NAR, Jul, 25kt
--------------
Index-linked
OFFER: API5 plus $1.50/t, basis 5,500kc NAR, June/July/August, Panamax
TRADE: API5 plus $1.00/t, basis 5,500kc NAR, May, Panamax
TRADE: API5 plus $1.00/t, basis 5,500kc NAR, Jun, Panamax
______________
INDONESIA
Sub-bituminous/Bituminous
BID: $64.00/t FOB, basis 5,000 kc GAR, May, Panamax
BID: $76.00/t FOB, basis 5,700 kc GAR, Apr, Panamax
UNCONFIRMED BID: $61.00/t FOB, basis 4,800 kc NAR, blend, May, Panamax
UNCONFIRMED OFFER: $63.00/t FOB, basis 4,800 kc NAR, blend, May, Panamax
OFFER: $69.00/t FOB, basis 5,000 kc GAR, Apr/May, geared
OFFER: $81.00/t FOB, basis 5,700 kc GAR, May, geared
----------
Low-rank
4,200 kc GAR
OFFER: $48.15/t FOB, basis 3,800 kc NAR, May, geared
TRADE: $46.10/t FOB, basis 4,000 kc GAR, May, Panamax
OFFER: $45.00/t FOB, basis 4,000 kc GAR, May, Panamax
TRADE: $48.50/t FOB, basis 3,800 kc NAR, May, Panamax
TRADE: $48.00/t FOB, basis 3,800 kc NAR, Apr, Panamax
BID: $47.00/t FOB, basis 4,200 kc GAR, May, geared
BID: $47.50/t FOB, basis 4,200 kc GAR, Apr/May, geared
OFFER: $52.50/t FOB, basis 4,200 kc GAR, May, Panamax (Sumatra) low sulphur
OFFER: $47.50/t FOB, basis 3,900 kc NAR, Apr/May, (blend) Panamax
TRADE: $47.00/t FOB, basis 4,000 kc GAR, May, geared
----------
3,800 kc GAR
BID: $40.00/t FOB, basis 3,800 kc GAR, May, geared
OFFER: $39.00.15/t FOB, basis 3,300 kc NAR, May, geared
----------------
Index-linked
OFFER: Index plus $1.25/t FOB, basis 3,700 kc NAR, Apr, Panamax
OFFER: Index plus $2.00/t FOB, basis 3,000 kc NAR, (blended), Apr, geared
OFFER: Index flat (average of 34GAR/42GAR) $0.00/t FOB, basis 3,300 kc GAR, May, geared
__________
SOUTH AFRICA
5,500 kc NAR
BID: $73.00-74.00/t FOB, basis 5,500 kc NAR, May, 50kt
OFFER: $75.50-77.50/t FOB, basis 5,500 kc NAR, May, 50kt
BID: $74.00-74.50/t FOB, basis 5,500 kc NAR, May, 50kt
OFFER: $76.00-77.00/t FOB, basis 5,500 kc NAR, May, 50kt
------------
4,800 kc NAR
BID: $58.00/t FOB, basis 4,800 kc NAR, May, 50kt
OFFER: $62.00-64.00/t FOB, basis 4,800 kc NAR, May, 50kt
BID: $61.00/t FOB, basis 4,800 kc NAR, May, 50kt
OFFER: $63.00-64.00/t FOB, basis 4,800 kc NAR, May, 50kt
_______________
CHINA
TENDER OFFER: RMB438.50/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB532/t DDP, basis 4,500 kc NAR, Jun, Australian, Panamax
TENDER OFFER: RMB543/t DDP, basis 4,500 kc NAR, Jun, Australian, Panamax
TENDER OFFER: RMB550/t DDP, basis 4,500 kc NAR, Jun, Russian, Panamax
TENDER OFFER: RMB563.50/t DDP, basis 4,500 kc NAR, Jun, Russian, Panamax
TENDER OFFER: RMB452/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB457/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB460/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB462/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB463/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB455/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB460/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB461/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB462/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB469/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB471/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB472/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB539/t DDP, basis 4,500 kc NAR, unknown, May, Panamax
TENDER OFFER: RMB559/t DDP, basis 4,600 kc NAR, unknown, May, Panamax
TENDER OFFER: RMB564/t DDP, basis 4,600 kc NAR, unknown, May, Panamax
TENDER OFFER: RMB569/t DDP, basis 4,600 kc NAR, unknown, May, Panamax
TENDER OFFER: RMB666/t DDP, basis 5,300 kc NAR, unknown, May, Panamax

McCloskey/Xinhua Infolink

Chinese markers

QHD FOB Marker - $/t

4-Apr-25 11-Apr-25 18-Apr-25

5,000kc NAR 82.83 82.25 82.00

or 4,700kc NAR 77.86 77.31 77.09


5,500kc NAR 93.71 93.32 92.85

5,800kc NAR 103.63 102.78 102.65

or 6,000kc NAR 107.20 106.33 106.19

QHD FOB Marker -


RMB/t

5,000kc NAR 595 593 591

or 4,700kc NAR 560 557 556

5,500kc NAR 674 673 669

5,800kc NAR 745 741 740

or 6,000kc NAR 771 767 765


Note: FOB prices include domestic taxes

Freight - $/t

QHD to Shanghai 3.29 3.35 3.74

QHD to GZ 5.64 5.62 6.09

McCloskey WEEK SO FAR – Week ending 11 April 2025

AUSTRALIA
Newcastle
BID: $86.50/t FOB, basis 6,000 kc NAR, May, 25kt
BID: $90.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $95.50/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $95.00/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: $102.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
BID: $87.00/t FOB, basis 6,000 kc NAR, May, 25kt
OFFER: $91.50/t FOB, basis 6,000 kc NAR, May, 25kt
BID: $90.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $95.50/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $92.80/t FOB, basis 6,000 kc NAR, May, 25kt
BID: $88.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $91.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
TRADE: $90.75/t FOB, basis 6,000 kc NAR, May, 25kt
BID: $89.50/t FOB, basis 6,000 kc NAR, May, 25kt
OFFER: $92.00/t FOB, basis 6,000 kc NAR, May, 25kt
BID: $90.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $97.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $93.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: $102.05/t FOB, basis 6,000 kc NAR, Jul, 25kt
BID: $98.00/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: $103.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
TRADE: $101.00/t FOB, basis 6,000 kc NAR, Jul, 25kt
----------------
Index-linked
OFFER: Newc minus $4.50/t FOB, basis 6,000 kc NAR, May, 25kt
OFFER: Newc minus $4.50/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: Newc minus $8.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
BID: Newc minus $7.00/t FOB, basis 6,000 kc NAR, Q3-2025, 25kt/mth
OFFER: Newc minus $3.15/t FOB, basis 6,000 kc NAR, Q3-2025, 25kt/mth
BID: Newc minus $8.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: Newc minus $2.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
TRADE: Newc minus $4.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
BID: Newc minus $5.00/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: Newc minus $3.75/t FOB, basis 6,000 kc NAR, Jul, 25kt
-----------
5,500 kc NAR
BID: $72.00/t FOB, basis 5,500 kc NAR, May, Cape
TRADE: $71.00/t FOB, basis 5,500 kc NAR, May, Panamax
BID: $70.00/t FOB, basis 5,500 kc NAR, May, Cape
OFFER: $64.00/t FOB, basis 4,600 kc NAR, Apr, Panamax
OFFER: $71.50/t FOB, basis 5,500 kc NAR, May, Panamax
______________
INDONESIA
Sub-bituminous/Bituminous
OFFER: $64.00/t FOB, basis 4,600 kc NAR, Apr, Panamax
----------
Low-rank
4,200 kc GAR
OFFER: $51.00/t FOB, basis 3,800 kc NAR, May, Panamax
OFFER: $49.50/t FOB, basis 3,800 kc NAR, May, Panamax
OFFER: $49.00/t FOB, basis 3,800 kc NAR, May, Panamax
BID: $48.25/t FOB, basis 3,800 kc NAR, May, Panamax
OFFER: $50.80/t FOB, basis 4,200 kc GAR, Apr/May, Panamax
BID: $48.00/t FOB, basis 4,200 kc GAR, May, geared
OFFER: $49.50/t FOB, basis 3,800 kc NAR, May, Panamax
----------
3,800 kc GAR
OFFER: $43.70/t FOB, basis 3,800 kc GAR, Apr/May, Panamax
OFFER: $42.50/t FOB, basis 3,800 kc GAR, Apr/May, Panamax
----------------
3,400 kc GAR
TRADE: $37.00/t FOB, basis 3,200 kc GAR, May, geared
----------------
Index-linked
UNCONFIRMED BIDS: Index plus $1.75-2.00/t FOB, basis 4,200 kc GAR, Apr, geared
OFFER: Index plus $2.25/t, basis 4,200 kc GAR, May, Panamax
OFFER: Index plus $1.00, basis 3,800 kc NAR, May, geared
OFFER: Index plus $2.50, basis 3,800 kc NAR, May, Panamax
TRADE: Index flat FOB, basis 5,000 kc GAR, Apr, Panamax
TRADE: Index flat FOB, basis 5,000 kc GAR, Apr, Panamax
_______________
CHINA
TENDER OFFER: RMB390/t DDP, basis 3,400 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB397/t DDP, basis 3,400 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB369/t DDP, basis 3,200 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB385/t DDP, basis 3,300 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB359/t DDP, basis 3,000 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB453/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB444/t DDP, basis 3,700 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB468/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB780/t DDP, basis 6,200 kc NAR, Unknown, May, Panamax
TENDER OFFER: RMB699/t DDP, basis 5,500 kc NAR, Unknown, May, Panamax
TENDER OFFER: RMB702/t DDP, basis 5,500 kc NAR, Unknown, May, Panamax
TENDER OFFER: RMB673.58/t DDP, basis 5,300 kc NAR, Unknown, May, Panamax
TENDER OFFER: RMB704/t DDP, basis 5,500 kc NAR, May, Unknown, Panamax
TENDER OFFER: RMB458/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB462/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB463/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB467/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB469/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB470/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB471/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB473/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB475/t DDP, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB557/t DDP, basis 4,500 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB568/t DDP, basis 4,600 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB575/t DDP, basis 4,600 kc NAR, Indonesian, May, Panamax
TENDER OFFER: RMB703/t DDP, basis 5,500 kc NAR, Unknown, May, Panamax
TENDER OFFER: RMB710/t DDP, basis 5,500 kc NAR, Unknown, May, Panamax
TENDER OFFER: RMB713/t DDP, basis 5,500 kc NAR, Unknown, May, Panamax
OFFER: RMB459/t CIF, basis 3,800 kc NAR, Indonesian, May, Panamax
TENDER OFFER: $55.4/t CIF south China, basis 3,800 kc NAR, Indonesian, Jul, Panamax
TENDER OFFER: RMB461/t DDP south China, basis 3,800 kc NAR, Indonesian, Jul, Panamax
TENDER OFFER: RMB703/t DDP south China, basis 3,800 kc NAR, Indonesian, Jul, Panamax
TENDER OFFER: RMB389/t DDP, basis 3,400 kc NAR, Indonesian, Jul, Panamax

McCloskey/Xinhua Infolink

Chinese markers

QHD FOB Marker - $/t

28-Mar-25 4-Apr-25 11-Apr-25

5,000kc NAR 82.55 82.83 82.25

or 4,700kc NAR 77.60 77.86 77.31

5,500kc NAR 93.99 93.71 93.32

5,800kc NAR 103.84 103.63 102.78

or 6,000kc NAR 107.42 107.20 106.33

QHD FOB Marker -


RMB/t

5,000kc NAR 592 595 593

or 4,700kc NAR 557 560 557

5,500kc NAR 674 674 673

5,800kc NAR 745 745 741

or 6,000kc NAR 771 771 767


Note: FOB prices include domestic taxes
Freight - $/t

QHD to Shanghai 3.76 3.29 3.35

QHD to GZ 5.70 5.64 5.62

McCloskey WEEK SO FAR – Week ending 4 April 2025

AUSTRALIA
Newcastle
BID: $88.00/t FOB, basis 6,000 kc NAR, May, 25kt
OFFER: $94.00/t FOB, basis 6,000 kc NAR, May, 25kt
BID: $97.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $110.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $98.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $105.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $88.00/t FOB, basis 6,000 kc NAR, May, 25kt
OFFER: $96.25/t FOB, basis 6,000 kc NAR, May, 25kt
BID: $100.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $104.10/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $88.00/t FOB, basis 6,000 kc NAR, May, 25kt
OFFER: $96.25/t FOB, basis 6,000 kc NAR, May, 25kt
BID: $95.00/t FOB, basis 6,000 kc NAR, May, 25kt
OFFER: $96.75/t FOB, basis 6,000 kc NAR, May, 25kt
BID: $97.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $103.75/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $102.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: $114.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
TRADE: $96.75/t FOB, basis 6,000 kc NAR, May, 25kt
OFFER: $112.00/t FOB, basis 6,000 kc NAR, May, 25kt
BID: $97.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $102.00/t FOB, basis 6,000 kc NAR, Jul, 25kt
BID: $90.50/t FOB, basis 6,000 kc NAR, May, 25kt
OFFER: $97.00/t FOB, basis 6,000 kc NAR, May, 25kt
BID: $95.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
OFFER: $101.00/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: $98.00/t FOB, basis 6,000 kc NAR, Jul, 25kt
----------------
Index-linked
OFFER: Newc minus $4.50/t FOB, basis 6,000 kc NAR, Jun, 25kt
BID: Newc minus $7.00/t FOB, basis 6,000 kc NAR, Jul, 25kt
OFFER: Newc minus $2.50/t FOB, basis 6,000 kc NAR, Jul, 25kt
BID: Index minus $4.50/t, basis 6,000 kc NAR, Jun, 25kt
BID: Index minus $7.50/t, basis 6,000 kc NAR, Jul, 25kt
OFFER: Index minus $2.50/t, basis 6,000 kc NAR, Jul, 25kt
OFFER: Index minus $4.50/t, basis 6,000 kc NAR, Jun, 25kt
BID: Index minus $7.50/t, basis 6,000 kc NAR, Jul, 25kt
OFFER: Index minus $2.50/t, basis 6,000 kc NAR, Jul, 25kt

-----------
5,500 kc NAR
OFFER: $73.00/t FOB, basis 5,500 kc NAR, May, Panamax
TRADE: $70.00/t FOB, basis 5,500 kc NAR, May, Panamax
______________
INDONESIA
Sub-bituminous/Bituminous
TRADE: $80.00/t FOB, basis 5,800 kc GAR, May, Panamax
----------
Low-rank
4,200 kc GAR
BID: $48.00/t FOB, basis 4,200 kg GAR, Apr, Panamax
OFFER: $49.50/t FOB, basis 4,200 kg GAR, Apr, Panamax
BID: $48.50/t, basis 3,800 kc NAR, Apr, geared,
OFFER: $50.50/t FOB, basis 4,200 GAR, May, Panamax
UNCONFIRMED TRADE: $50.50/t FOB, basis 3,800kc NAE, Apr, Panamax
BID: $49.00/t FOB, basis 3,800kc NAR, May, Panamax
----------------
Index-linked
OFFER: Index plus $1.00/t, basis 3,800 kc NAR, Apr, geared
TRADE: Index flat +/-$0.00/t, basis 5,000 kc GAR, Apr, Panamax
TRADE: Index flat +/-$0.00/t, basis 5,000 kc GAR, Apr, Panamax
OFFER: Index plus $2.50/t FOB, basis 3,800kc NAR, Apr, Panamax
OFFER: Index plus $1.75/t FOB, basis 4,000kc GAR, Apr, Panamax
OFFER: Index plus $3.50/t FOB, basis 3,000kc NAR, Apr, Panamax
__________
SOUTH AFRICA
5,500 kc NAR
UNCONFIRMED BIDS: $73.00-74.00/t FOB, basis 5,500 kc NAR, Apr/May, Panamax
UNCONFIRMED OFFERS: $75.00-76.00/t FOB, basis 5,500 kc NAR, Apr/May, Panamax
___________
PHILIPPINES
OFFER: $36.50/t FOB, 3,400kc NAR, Apr, Panamax
_______________
CHINA
TENDER OFFER: RMB463/t DDP, basis 3,800 kc NAR, Indonesian, Apr/May, Panamax
TENDER OFFER: RMB488.5/t DDP, basis 3,800 kc NAR, Indonesian, Apr/May, Panamax
TENDER OFFER: RMB467/t DDP, basis 3,800 kc NAR, Indonesian, Apr/May, Panamax
TENDER OFFER: RMB465.8/t DDP, basis 3,800 kc NAR, Indonesian, Apr/May, Panamax
TENDER OFFER: RMB466/t DDP, basis 3,800 kc NAR, Indonesian, Apr/May, Panamax
TENDER OFFER: RMB466.5/t DDP, basis 3,800 kc NAR, Indonesian, Apr/May, Panamax
TENDER OFFER: RMB468.5/t DDP, basis 3,800 kc NAR, Indonesian, Apr/May, Panamax
TENDER OFFER: RMB471/t DDP, basis 3,800 kc NAR, Indonesian, Apr/May, Panamax
TENDER OFFER: RMB499/t DDP, basis 3,800 kc NAR, Indonesian, Apr/May, Panamax
TENDER OFFER: RMB461.7/t DDP, basis 3,800 kc NAR, Indonesian, Apr/May, Panamax
TENDER AWARD: RMB458/t DDP, basis 3,800 kc NAR, May/Jun, Panamax
TENDER AWARD: RMB565/t DDP, basis 4,600 kc NAR, May/Jun, Panamax
TENDER AWARD: RMB459/t DDP, basis 3,800 kc NAR, May/Jun, Panamax
TENDER AWARD: RMB549/t DDP, basis 4,500 kc NAR, May/Jun, Panamax
TENDER AWARD: RMB564/t DDP, basis 4,600 kc NAR, May/Jun, Panamax
TENDER AWARD: RMB694/t DDP, basis 5,500 kc NAR, May/Jun, Panamax

McCloskey/Xinhua Infolink

Chinese markers

QHD FOB Marker - $/t

21-Mar-25 28-Mar-25 4-Apr-25

5,000kc NAR 82.83 82.55 82.83

or 4,700kc NAR 77.85 77.60 77.86

5,500kc NAR 94.40 93.99 93.71

5,800kc NAR 104.65 103.84 103.63

or 6,000kc NAR 108.25 107.42 107.20


QHD FOB Marker -
RMB/t

5,000kc NAR 594 592 595

or 4,700kc NAR 559 557 560

5,500kc NAR 677 674 674

5,800kc NAR 751 745 745

or 6,000kc NAR 777 771 771


Note: FOB prices include domestic taxes

Freight - $/t

QHD to Shanghai 4.16 3.76 3.29

QHD to GZ 6.11 5.70 5.64

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