Benchmark: 6,000 kcal NAR, FOB Newcastle (ICE). The same tonne prices differently by origin — freight, quality, sanctions and policy set the differential. Deep dive →
| Origin | Basis | Price | vs benchmark | Market note |
|---|---|---|---|---|
🇦🇺 Newcastle Australia · Pacific reference | FOB Newcastle | 149.50 | Benchmark | High-CV benchmark grade |
🇿🇦 Richards Bay South Africa · ~55 Mt/yr | FOB RBCT | 138.00 | -11.50 (-7.7%)widening | Atlantic/India swing tonnes; rail constraints cap exports |
🇮🇩 Kalimantan 4,200 kcal Indonesia · volume leader | FOB Kalimantan | 87.50 | -62.00 (-41.5%)widening | Low-CV grade — different market, cement & Indian utilities |
🇷🇺 Baltic Russia · redirected east | FOB Ust-Luga | 115.50 | -34.00 (-22.7%)widening | Sanctions discount into price-sensitive Asian buyers |
Differentials are indicative desk assessments over the live benchmark — 90-day spread trend shown per origin.
Track physical flows on the live vessel map →Indicative term structure · Backwardation
Converted from 149.50 USD/t · indicative FX
Thermal Coal is traded in the energy minerals segment, with price discovery referenced against ICE. The chart above shows the trailing indicative price path. Physical parcels of Thermal Coal can be sourced or placed through the Off Market desk, listed openly on the Marketplace, or intermediated by a specialist broker.
Well-supplied inventories and mild weather weighed on seaborne thermal coal, while coking coal held up on restocking by mills.