Financial Markets: South African Nov thermal coal exports slip to 6.04 mil mt, 3-month low

South African exports of bituminous thermal coal slumped 18% month on month to hit a three-month low of 6.04 million mt in November, with a slight increase in shipments to European customers failing to offset a sizable month-on-month drop in deliveries to major market India, according to customs data Tuesday, provided by PLATTZ.

India took delivery of 2.51 million mt in November, down 34% on the month and the lowest since August.

Ongoing logistical bottlenecks at Indian ports have increased the cost of importing thermal coal and incentivized many buyers to instead look to the domestic market for their supplies.

Cargoes destined for Pakistan continued their recent decline since topping out at nearly 500,000 mt in July, falling 20% from October’s tally to 171,089 mt.