London — South African thermal coal exports for the month of June totaled 6.2 million mt, an increase of 2.5% from May but down 8% on the year, with the total volume for the first half of 2018 largely unchanged on the year at 38.4 million mt, according to customs data released Monday.
India remained the dominant importer of South African coal, with a total volume for June at 3.83 million mt, up 17% from May and also up 35% on the year, which could have been driven by pre-monsoon season re-stocking. India grew its share of South African exports, making up 62.3% of the total volume, up from 54.3% in May.
For H1, India imported 18.5 million mt, up 5% from H1 2017.
Pakistan imported 924,595 mt in June, up 36% on the month and roughly double the volume from the year ago month. In the first half of the year, South Africa exported 5.4 million mt to Pakistan, up 15.6% on the year.
South Korea's imports from South Africa fell by 39% on the month to 456,700 mt, a drop of 23% on the year with a total volume for H1 at 4.7 million mt, an increase of 22% from H1 2017.
South Africa exported 52,000 mt to the UAE in June, a drop of 48% for both the month and the year, with an H1 volume at 373,945 mt, down from 417,638 for H1 2017.
Ireland received its first cargo from South African in June, with a volume of 49,500 mt, having last imported from South Africa in December.
OTHER ORIGINS TO COMPETE WITH S AFRICA
A market source in South Africa reported at the end of last week, Coal stocks at Richards Bay Coal Terminal stood at 3.89 million mt, a market source in South Africa said last week, with 4 million mt being the historical average.
A broker said he anticipated more origins taking South Africa's market share, namely US and Colombian coal, owing to unfavorable FOB Richards Bay prices.
The source said Pakistan had imported around 1 million mt of coal from Afghanistan so far this year, with India showing more interest in Australian 5,500 kcal/kg NAR coal over South African coal of this grade as these key destinations seek alternative supply for better pricing.
According to S&P Global Platts vessel tracking software, cFlow, only two ships were in the queue Monday.
The average Platts FOB Richards Bay, 5,500 kcal/kg NAR 7-45 day price for June stood at $87.83/mt, roughly unchanged from May.
