The market revved up a notch as sellers pointed to the cold weather and Chinese buying. But buyers noted an over enthusiastic eagerness by sellers to shift coal.Argus recorded four transactions at 29.35 dollars, 29.50 dollars, 29.65 dollars and 29.75 dollars/tonne FOB South Africa. The volume weighted average of these transactions was 29.50 dollars/tonne FOB Richards Bay.In the market opinion survey, Argus identified the best selling indication as 29.75 dollars/tonne FOB South Africa and the best buying indication was 29.25 dollars/tonne. The average of these two indications is 29.50 dollars/tonne.An average of market price estimates from the contract lifters of South African coal of 6,000 kcal/kg quality was also 29.50 dollars/tonne, though the producers with entitlement at Richards Bay believed the market price was 29.90 dollars/tonne.
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