DAILY: Indonesian thermal coal slides despite intensive tender invitations

Indonesian thermal coal prices eased on September 29, pressured by weakening demand from its largest buyer China as China's National Day holiday (October 1-8) approaches. The downward correction in China's domestic market also weighed on seaborne prices.

Mysteel assessed Indonesian 3,800 kcal/kg NAR thermal coal at $46.2/tonne FOB Kalimantan on Panamax vessels, down from $46.5/t last Friday. Yet Indonesian miners kept their offers firm at $46.5-47/t for similar cargoes, according to sources. Freight rates on Panamax vessels from South Kalimantan to South China recently held steady