India’s domestic coal prices are surging as buyers scramble to secure fuel 🇮🇳🪨
💴 Customers paid a premium of more than 340% above base prices this month via local auctions (Jan. was just a 100% premium)
📈 Global coal supply crunch sends prices higher
bloomberg.com/news/articles/…
💴 Customers paid a premium of more than 340% above base prices this month via local auctions (Jan. was just a 100% premium)
📈 Global coal supply crunch sends prices higher
bloomberg.com/news/articles/…
These domestic coal shipments are still way cheaper than the price of importing fuel from the overseas market 💰
Thermal coal loaded at Australia’s Newcastle port soared to a record earlier this month as buyers shun Russian shipments and seek alternatives to pricey natural gas
Thermal coal loaded at Australia’s Newcastle port soared to a record earlier this month as buyers shun Russian shipments and seek alternatives to pricey natural gas
Coal India, the world’s top producer of the fuel, sells about 15%-20% of its output through an online auction system in which consumers make offers above a minimum set price
Rates paid are typically far higher than the long-term contracts that account for the majority of sales
Rates paid are typically far higher than the long-term contracts that account for the majority of sales
One more thing worth watching in India:
Coal India is seeking to make the first major price increase since 2018 to long-term contracts, arguing that a hike is necessary to handle spiraling costs
(India relies on coal to generate about 70% of its electricity)
Coal India is seeking to make the first major price increase since 2018 to long-term contracts, arguing that a hike is necessary to handle spiraling costs
(India relies on coal to generate about 70% of its electricity)
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