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LONDON, Sept 21 (Reuters) – Asia’s share of South Africa’s
coal exports of 5.9 million tonnes in August fell to 55 percent,
while the Atlantic market’s rose sharply, reflecting increased
shipments 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
sought by Chinese trade buyers for many coal origins led sellers
of South African coal to see Europe as a comparatively
attractive market due to less 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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