Russian coal stocks swell, exports slip amid war constraints

DBX Commodities data and insights were featured in the latest article by Montel:

'Stocks in Russia’s main coal-mining region in southwest Siberia were seen this week at around 21m tones, compared with 18.8m tones at the same time last year and just 16m tones in September 2020, according to DBX estimates.

At the same time, Russian thermal coal exports were projected to have dropped 2.5% on the year in January-September to 92.8m tones, the firm’s data showed.

Russian producers were reluctant to sell at currently low prices to their remaining customer base, said DBX’s CEO Alexandre CLAUDE.

“Russian mines are holding back from selling at low prices of around USD 100 FOB [free-on-board],” he said.

“They have had some amazing years and are cash-rich at the moment, so there is no need to sell at a loss,” he added.'

Read more here.

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