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coal trading at $75

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SimonPB
Valued Contributor
LONDON, Nov 24 (Reuters) - A January loading 30,000 tonne parcel of Australian coal traded on Monday at $75.00 a tonne FOB Newcastle on globalCOAL, globalCOAL said.
A February loading 30,000 tonne parcel traded at $74.75/T and a March 30,000 tonne parcel traded at $74.25 at the same time.
A trade for 25,000 tonnes per month of Australian coal for loading during 2010 went through at $73.75 a tonne FOB Newcastle also on globalCOAL.

was up at 200 in July
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7 REPLIES 7
louisg
Super Contributor
Simon, what effect will this have on Eskom tariffs going forward?
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Not applicable
If eskom operates like SAA then they hedged the price at $200 and will want another increase... But Im guessing this is another blow to Merafe and their coal plans.
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Hibiscus
Regular Contributor
Not good for coal and coal related industries and support services. Therefore not good for economy and with reference to BOP. What is the situation with iron ore!
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Project_Directo
Super Contributor
Vale and BHP cutting IO production in Brazil, RIO cutting as well. PD.
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dilligaff
Super Contributor
Haven't KIO just borrowed ~R5bil from Nedbank to finance their expansion plans locally for IO?
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Hibiscus
Regular Contributor
All enterprises currently in capital projects will have to revisit either discontinuation or slowdown? The effects of that ?? Well... we know!! But now will tey be ready or laaginging again in the next up phase which for sure is to follow.
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Resurgam2
Occasional Contributor
For a lot of open cast coal mines you are still producing at around R270 per ton FOB so the margins are still large. Eskom's tariff increases have nothing to do with the price of coal - it's all to do with the cost of building new capacity. Eskom sells it power for SAc 25 per kWh - it costs roughly SAc 65 per kWh to build a new coal-fired plant. It's that difference that tariff increases need to address
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