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Asia takes 78% of SA's coal exports

Mar 23 2012 08:54
Reuters

London - Asia's share of South Africa's coal exports rose to 78% or 4.7 million tonnes in February out of a total of 6 million, up from 61% in the previous month, exporters said.

Asia, including India, has taken an increasing proportion of South Africa's coal during the past few years and despite the substantial rise in monthly export tonnages seen since last June, while Europe's share has been shrinking.

Although China has been largely out of the spot market since December, imports previously bought have continued to be shipped, as the February data show.

China and India's ability to absorb South Africa's coal, as the country has maintained a higher monthly level of exports, has been a key factor supporting international coal prices in recent months.

India took 1.9 million tonnes in February, up from 1.3 million in January.

China, a key spot buyer of most coal origins, took 965 000 tonnes in February, up from 316 000 in January.

The Atlantic market as a whole accounted for 1.3 million tonnes in February, down from 1.6 in January.

Amsterdam-Rotterdam-Antwerp (ARA), Europe's main coal import hub, brought in only 160 000 tonnes or one capesize cargo of South African coal in February.

 
exports  |  coal

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