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LONDON, March 22 (Reuters) – Asia’s share of South Africa’s
coal exports rose to 78 percent or 4.7 million tonnes in
February out of a total of 6 million, up from 61 percent 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.
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