LONDON, Sept 21 (Reuters) – Asia’s share of South African
coal exports which totalled 5.9 million tonnes in August fell to
55 percent while the Atlantic market’s rose sharply, reflecting
increased shipping of cargoes to oversupplied Europe, exporters
said.
This year, aside from a briefly open window in July-August,
South African coal FOB prices have been uncompetitively high in
many markets but particularly Europe.
However, widespread price renegotiations and shipment delays
by Chinese trade buyers of many coal origins led sellers of
South African to regard Europe as comparatively more attractive
a market because of lesser counterparty risk.
The Atlantic market’s share of South African coal exports
rose to 44 percent of the total shipped from 21 percent in July.
China also saw a fall in South African imports to 855,000
tonnes in August from 2.1 million in July.
India’s imports were little changed at 1.6 million tonnes in
August compared with 1.7 million in July.
(Reporting by Jacqueline Cowhig, editing by William Hardy)
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