The thermal coal prices of Australian spot of reference mark rebounded of a two months bottom and went up above $53 per ton, thanks to an Asian request full and a tightening with the provisioning indonésiens due to the recent floods.

The thermal coal, used for the production of electricity, rose $1.07 one week more earlier to $53.29 per ton, the index of globalCOAL NEWC shown Monday, based on prices (FOB) free-one-board charged in Newcastle, the largest terminal of export of the coal of the world.

“The demand story hasn’t changed. Demand from utilities and industries is still incredibly strong and Newcastle prices were lifted because of force majeures in Indonesia,” said a trader from an Australian producer.

A 30,000-tonne thermal coal parcel for June delivery was traded on Friday at $54.10 a tonne on globalCOAL, while a smaller 15,000-tonne July-loading thermal coal parcel was sold at $54 a tonne on Monday, data from the electronic trading platform showed.

Industry sources said recent trades on the platform indicate that coal prices would continue to rise, as soaring demand from China and India outpaces supply.

Although the operator of Newcastle port has cut shipping allocations by about 20 percent to reduce waiting times and ease ship queues by July, industry sources said the situation would likely only see improvements in the fourth quarter, giving continued support to prices.

“Even if no new vessels arrive, it would still take about five weeks just to get rid of that backlog. I think the queue is going to stay for quite a long time,” Gloucester Coal Chief Executive Gavin May told Reuters.

“I can’t see any reason why prices are going to fall in the coming months, especially with China cutting exports and importing more from the region.”

The market has significantly tightened in recent weeks after several Indonesian coal producers, including Gunung Bayan Pratama Coal and Bukit Baiduri Energi, declared force majeure as flash floods in Kalimantan cut production.

The supply disruption, coupled with delays in Australia, have sparked fears among Asian coal buyers of a possible shortfall in stocks, prompting them to ask for existing orders with Indonesian suppliers to be brought forward by at least a month, traders and producers have said.

Another trader from an Australian producer said buyers in Korea, Japan and Taiwan would probably soon have to look at South African coal for spot supplies.

“You can’t get coal in a hurry these days, not from Australia or Indonesia. So if they are looking urgently for coal, they might just have to order it from South Africa or Russia,” he said.

Coal exports to the wearing of Newcastle of Australia fell 5.6 percent during the week to 1.642 million tons at the finished week on May 14, left data shown. The average latency to the port was 25.85 days, whereas the queues of ship were held with 64 boats.

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