DAILY: Indonesian thermal coal stable; Australian prices gain strength

Indonesian low-calorific value (CV) thermal coal prices remained largely stable on April 13, as subdued buying interest from key markets such as China and India limited upward momentum. In contrast, Australian high-CV cargoes gained support from stronger demand across Northeast and Southeast Asia, market sources said.

Offers for May-loading Panamax cargoes of Indonesian 3,800 kcal/kg NAR coal were heard at around $62/tonne FOB Kalimantan, little changed from last week. Elevated freight rates – currently around $10.5/t from South Kalimantan to South China – continued to erode import margins, keeping Chinese buyers on the sidelines. Recent tender