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<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward buy price of API 2 for February as per report dated Friday 6 January 2023?[/INST]170.00</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward sell price of API 2 for February as per report dated Friday 6 January 2023?[/INST]170.50</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward average price of API 2 for February as per report dated Friday 6 January 2023?[/INST]170.25</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward buy price of API 2 for March as per report dated Friday 6 January 2023?[/INST]169.90</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward sell price of API 2 for March as per report dated Friday 6 January 2023?[/INST]170.40</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward average price of API 2 for March as per report dated Friday 6 January 2023?[/INST]170.15</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward buy price of API 2 for April as per report dated Friday 6 January 2023?[/INST]168.75</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward sell price of API 2 for April as per report dated Friday 6 January 2023?[/INST]169.25</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward average price of API 2 for April as per report dated Friday 6 January 2023?[/INST]169.00</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward buy price of API 2 for 1Q23 as per report dated Friday 6 January 2023?[/INST]170.45</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward sell price of API 2 for 1Q23 as per report dated Friday 6 January 2023?[/INST]170.95</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward average price of API 2 for 1Q23 as per report dated Friday 6 January 2023?[/INST]170.70</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward buy price of API 2 for 2Q23 as per report dated Friday 6 January 2023?[/INST]167.95</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward sell price of API 2 for 2Q23 as per report dated Friday 6 January 2023?[/INST]168.45</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward average price of API 2 for 2Q23 as per report dated Friday 6 January 2023?[/INST]168.20</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward buy price of API 2 for 3Q23 as per report dated Friday 6 January 2023?[/INST]170.50</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward sell price of API 2 for 3Q23 as per report dated Friday 6 January 2023?[/INST]171.00</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward average price of API 2 for 3Q23 as per report dated Friday 6 January 2023?[/INST]170.75</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward buy price of API 2 for 4Q23 as per report dated Friday 6 January 2023?[/INST]171.00</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward sell price of API 2 for 4Q23 as per report dated Friday 6 January 2023?[/INST]171.50</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward average price of API 2 for 4Q23 as per report dated Friday 6 January 2023?[/INST]171.25</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward buy price of API 2 for 1Q24 as per report dated Friday 6 January 2023?[/INST]170.25</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward sell price of API 2 for 1Q24 as per report dated Friday 6 January 2023?[/INST]170.75</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward average price of API 2 for 1Q24 as per report dated Friday 6 January 2023?[/INST]170.50</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward buy price of API 2 for 2024 as per report dated Friday 6 January 2023?[/INST]166.40</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward sell price of API 2 for 2024 as per report dated Friday 6 January 2023?[/INST]166.90</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward average price of API 2 for 2024 as per report dated Friday 6 January 2023?[/INST]166.65</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward buy price of API 2 for 2025 as per report dated Friday 6 January 2023?[/INST]156.75</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward sell price of API 2 for 2025 as per report dated Friday 6 January 2023?[/INST]157.25</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward average price of API 2 for 2025 as per report dated Friday 6 January 2023?[/INST]157.00</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward buy price of API 2 for 2026 as per report dated Friday 6 January 2023?[/INST]147.10</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward sell price of API 2 for 2026 as per report dated Friday 6 January 2023?[/INST]147.60</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward average price of API 2 for 2026 as per report dated Friday 6 January 2023?[/INST]147.35</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward buy price of API 4 for 3Q23 as per report dated Friday 6 January 2023?[/INST]156.75</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward sell price of API 4 for 3Q23 as per report dated Friday 6 January 2023?[/INST]157.25</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward average price of API 4 for 3Q23 as per report dated Friday 6 January 2023?[/INST]157.00</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward buy price of API 4 for 2024 as per report dated Friday 6 January 2023?[/INST]152.65</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward sell price of API 4 for 2024 as per report dated Friday 6 January 2023?[/INST]153.15</s>
|
<s>Forward prices
| Forward prices | | | | $/t |
|--|-|-|-|-|
| Timing | Buy | Sell | Average | + |
| cif ARA (Rotterdam) API | 2 | | | |
| February | 170.00 | 170.50 | 170.25 | -7.30 |
| March | 169.90 | 170.40 | 170.15 | -7.55 |
| April | 168.75 | 169.25 | 169.00 | -7.35 |
| 1Q23 | 170.45 | 170.95 | 170.70 | -6.85 |
| 2Q23 | 167.95 | 168.45 | 168.20 | -5.80 |
| 3Q23 | 170.50 | 171.00 | 170.75 | -4.40 |
| 4Q23 | 171.00 | 171.50 | 171.25 | -3.90 |
| 1Q24 | 170.25 | 170.75 | 170.50 | -3.50 |
| 2024 | 166.40 | 166.90 | 166.65 | -3.15 |
| 2025 | 156.75 | 157.25 | 157.00 | -2.60 |
| 2026 | 147.10 | 147.60 | 147.35 | -2.05 |
| fob Richards Bay South | Africa API 4 | | | |
| February | 173.20 | 173.70 | 173.45 | -7.85 |
| March | 173.60 | 174.10 | 173.85 | -5.40 |
| April | 162.75 | 163.25 | 163.00 | -6.15 |
| 1Q23 | 172.20 | 172.70 | 172.45 | -8.50 |
| 2Q23 | 159.10 | 159.60 | 159.35 | -3.95 |
| 3Q23 | 156.75 | 157.25 | 157.00 | -4.15 |
| 4Q23 | 152.50 | 153.00 | 152.75 | -4.15 |
| 1Q24 | 148.25 | 148.75 | 148.50 | -6.40 |
| 2024 | 152.65 | 153.15 | 152.90 | -2.85 |
| 2025 | 145.25 | 145.75 | 145.50 | -2.60 |
| 2026 | 137.85 | 138.35 | 138.10 | -2.35 |
| API 2 premium to API 4 | | | | |
| Prompt | -3.45 | -2.95 | -3.20 | +0.55 |
| South Africa to Europe, | implied freight | rate | | |
| 1Q23 | -1.80 | -1.70 | -1.75 | +1.65 |
| 2Q23 | 8.80 | 8.90 | 8.85 | -1.85 |
| 3Q23 | 13.70 | 13.80 | 13.75 | -0.25 |
| 4Q23 | 18.45 | 18.55 | 18.50 | +0.25 |
| 1Q24 | 21.95 | 22.05 | 22.00 | +2.90 |
| 2024 | 13.70 | 13.80 | 13.75 | -0.30 |
| 2025 | 11.45 | 11.55 | 11.50 | nc |
| 2026 | 9.20 | 9.30 | 9.25 | +0.30 |
## Forward prices $/t
| Forward prices | | $/t |
|--|-|-|
| Timing | Midpoint | + |
| fob Newcastle 5,500 API 5 | | |
| February | 123.75 | -0.55 |
| March | 116.10 | -0.40 |
| 1Q23 | 124.05 | -0.55 |
| 2Q23 | 104.60 | -0.25 |
| 3Q23 | 97.05 | -0.05 |
| 4Q23 | 92.45 | -0.15 |
| 2024 | 83.65 | -1.30 |
[INST]What is the forward average price of API 4 for 2024 as per report dated Friday 6 January 2023?[/INST]152.90</s>
|
<s>UK ETS and CSP adjusted spark and dark spreads £/MWh
| UK ETS and CSP | adjusted spark | and dark | spreads | £/MWh |
|--|-|-|-|-|
| | NBP | 55% | ARA Coal | 40% |
| Contract | base load | peak load | base load | peak load |
| Working day ahead | 9.054 | 29.054 | 15.028 | 35.028 |
| February | 45.716 | 89.866 | 56.087 | 100.237 |
| March | 34.378 | 58.528 | 45.622 | 69.772 |
| April | 39.467 | 73.967 | 57.893 | 92.393 |
| May | 39.393 | 73.793 | - | - |
| June | 39.148 | 73.598 | - | - |
| July | 38.823 | 75.323 | - | - |
| 2Q23 | 39.301 | 73.801 | 59.425 | 93.925 |
| 3Q23 | 30.516 | 63.966 | 51.053 | 84.503 |
| 4Q23 | 67.216 | 170.116 | 97.905 | 200.805 |
| 1Q24 | 41.925 | 109.025 | 75.247 | 142.347 |
| Summer 2023 | 34.909 | 68.909 | 55.237 | 89.237 |
| Winter 2023 | 54.570 | 139.570 | - | - |
| Summer 2024 | 23.018 | 60.018 | - | - |
| Winter 2024 | 52.698 | 137.698 | - | - |
| 2024 | 35.496 | 92.026 | 55.599 | 112.129 |
[INST]What is the peak load UK ETS and CSP adjusted spark and dark spreads price under NBP 55% for February?[/INST]89.866</s>
|
<s>UK ETS and CSP adjusted spark and dark spreads £/MWh
| UK ETS and CSP | adjusted spark | and dark | spreads | £/MWh |
|--|-|-|-|-|
| | NBP | 55% | ARA Coal | 40% |
| Contract | base load | peak load | base load | peak load |
| Working day ahead | 9.054 | 29.054 | 15.028 | 35.028 |
| February | 45.716 | 89.866 | 56.087 | 100.237 |
| March | 34.378 | 58.528 | 45.622 | 69.772 |
| April | 39.467 | 73.967 | 57.893 | 92.393 |
| May | 39.393 | 73.793 | - | - |
| June | 39.148 | 73.598 | - | - |
| July | 38.823 | 75.323 | - | - |
| 2Q23 | 39.301 | 73.801 | 59.425 | 93.925 |
| 3Q23 | 30.516 | 63.966 | 51.053 | 84.503 |
| 4Q23 | 67.216 | 170.116 | 97.905 | 200.805 |
| 1Q24 | 41.925 | 109.025 | 75.247 | 142.347 |
| Summer 2023 | 34.909 | 68.909 | 55.237 | 89.237 |
| Winter 2023 | 54.570 | 139.570 | - | - |
| Summer 2024 | 23.018 | 60.018 | - | - |
| Winter 2024 | 52.698 | 137.698 | - | - |
| 2024 | 35.496 | 92.026 | 55.599 | 112.129 |
[INST]What is the base load UK ETS and CSP adjusted spark and dark spreads price under ARA Coal 40% for February?[/INST]56.087</s>
|
<s>UK ETS and CSP adjusted spark and dark spreads £/MWh
| UK ETS and CSP | adjusted spark | and dark | spreads | £/MWh |
|--|-|-|-|-|
| | NBP | 55% | ARA Coal | 40% |
| Contract | base load | peak load | base load | peak load |
| Working day ahead | 9.054 | 29.054 | 15.028 | 35.028 |
| February | 45.716 | 89.866 | 56.087 | 100.237 |
| March | 34.378 | 58.528 | 45.622 | 69.772 |
| April | 39.467 | 73.967 | 57.893 | 92.393 |
| May | 39.393 | 73.793 | - | - |
| June | 39.148 | 73.598 | - | - |
| July | 38.823 | 75.323 | - | - |
| 2Q23 | 39.301 | 73.801 | 59.425 | 93.925 |
| 3Q23 | 30.516 | 63.966 | 51.053 | 84.503 |
| 4Q23 | 67.216 | 170.116 | 97.905 | 200.805 |
| 1Q24 | 41.925 | 109.025 | 75.247 | 142.347 |
| Summer 2023 | 34.909 | 68.909 | 55.237 | 89.237 |
| Winter 2023 | 54.570 | 139.570 | - | - |
| Summer 2024 | 23.018 | 60.018 | - | - |
| Winter 2024 | 52.698 | 137.698 | - | - |
| 2024 | 35.496 | 92.026 | 55.599 | 112.129 |
[INST]What is the peak load UK ETS and CSP adjusted spark and dark spreads price under ARA Coal 40% for Winter 2023?[/INST]-</s>
|
<s>UK ETS and CSP adjusted spark and dark spreads £/MWh
| UK ETS and CSP | adjusted spark | and dark | spreads | £/MWh |
|--|-|-|-|-|
| | NBP | 55% | ARA Coal | 40% |
| Contract | base load | peak load | base load | peak load |
| Working day ahead | 9.054 | 29.054 | 15.028 | 35.028 |
| February | 45.716 | 89.866 | 56.087 | 100.237 |
| March | 34.378 | 58.528 | 45.622 | 69.772 |
| April | 39.467 | 73.967 | 57.893 | 92.393 |
| May | 39.393 | 73.793 | - | - |
| June | 39.148 | 73.598 | - | - |
| July | 38.823 | 75.323 | - | - |
| 2Q23 | 39.301 | 73.801 | 59.425 | 93.925 |
| 3Q23 | 30.516 | 63.966 | 51.053 | 84.503 |
| 4Q23 | 67.216 | 170.116 | 97.905 | 200.805 |
| 1Q24 | 41.925 | 109.025 | 75.247 | 142.347 |
| Summer 2023 | 34.909 | 68.909 | 55.237 | 89.237 |
| Winter 2023 | 54.570 | 139.570 | - | - |
| Summer 2024 | 23.018 | 60.018 | - | - |
| Winter 2024 | 52.698 | 137.698 | - | - |
| 2024 | 35.496 | 92.026 | 55.599 | 112.129 |
[INST]What is the base load UK ETS and CSP adjusted spark and dark spreads price under NBP 55% for 3Q23?[/INST]30.516</s>
|
<s>UK ETS and CSP adjusted spark and dark spreads £/MWh
| UK ETS and CSP | adjusted spark | and dark | spreads | £/MWh |
|--|-|-|-|-|
| | NBP | 55% | ARA Coal | 40% |
| Contract | base load | peak load | base load | peak load |
| Working day ahead | 9.054 | 29.054 | 15.028 | 35.028 |
| February | 45.716 | 89.866 | 56.087 | 100.237 |
| March | 34.378 | 58.528 | 45.622 | 69.772 |
| April | 39.467 | 73.967 | 57.893 | 92.393 |
| May | 39.393 | 73.793 | - | - |
| June | 39.148 | 73.598 | - | - |
| July | 38.823 | 75.323 | - | - |
| 2Q23 | 39.301 | 73.801 | 59.425 | 93.925 |
| 3Q23 | 30.516 | 63.966 | 51.053 | 84.503 |
| 4Q23 | 67.216 | 170.116 | 97.905 | 200.805 |
| 1Q24 | 41.925 | 109.025 | 75.247 | 142.347 |
| Summer 2023 | 34.909 | 68.909 | 55.237 | 89.237 |
| Winter 2023 | 54.570 | 139.570 | - | - |
| Summer 2024 | 23.018 | 60.018 | - | - |
| Winter 2024 | 52.698 | 137.698 | - | - |
| 2024 | 35.496 | 92.026 | 55.599 | 112.129 |
[INST]What is the peak load UK ETS and CSP adjusted spark and dark spreads price under ARA Coal 40% for 1Q24?[/INST]142.347</s>
|
<s>UK ETS and CSP adjusted spark and dark spreads £/MWh
| UK ETS and CSP | adjusted spark | and dark | spreads | £/MWh |
|--|-|-|-|-|
| | NBP | 55% | ARA Coal | 40% |
| Contract | base load | peak load | base load | peak load |
| Working day ahead | 9.054 | 29.054 | 15.028 | 35.028 |
| February | 45.716 | 89.866 | 56.087 | 100.237 |
| March | 34.378 | 58.528 | 45.622 | 69.772 |
| April | 39.467 | 73.967 | 57.893 | 92.393 |
| May | 39.393 | 73.793 | - | - |
| June | 39.148 | 73.598 | - | - |
| July | 38.823 | 75.323 | - | - |
| 2Q23 | 39.301 | 73.801 | 59.425 | 93.925 |
| 3Q23 | 30.516 | 63.966 | 51.053 | 84.503 |
| 4Q23 | 67.216 | 170.116 | 97.905 | 200.805 |
| 1Q24 | 41.925 | 109.025 | 75.247 | 142.347 |
| Summer 2023 | 34.909 | 68.909 | 55.237 | 89.237 |
| Winter 2023 | 54.570 | 139.570 | - | - |
| Summer 2024 | 23.018 | 60.018 | - | - |
| Winter 2024 | 52.698 | 137.698 | - | - |
| 2024 | 35.496 | 92.026 | 55.599 | 112.129 |
[INST]What is the base load UK ETS and CSP adjusted spark and dark spreads price under NBP 55% for May?[/INST]39.393</s>
|
<s>UK ETS and CSP adjusted spark and dark spreads £/MWh
| UK ETS and CSP | adjusted spark | and dark | spreads | £/MWh |
|--|-|-|-|-|
| | NBP | 55% | ARA Coal | 40% |
| Contract | base load | peak load | base load | peak load |
| Working day ahead | 9.054 | 29.054 | 15.028 | 35.028 |
| February | 45.716 | 89.866 | 56.087 | 100.237 |
| March | 34.378 | 58.528 | 45.622 | 69.772 |
| April | 39.467 | 73.967 | 57.893 | 92.393 |
| May | 39.393 | 73.793 | - | - |
| June | 39.148 | 73.598 | - | - |
| July | 38.823 | 75.323 | - | - |
| 2Q23 | 39.301 | 73.801 | 59.425 | 93.925 |
| 3Q23 | 30.516 | 63.966 | 51.053 | 84.503 |
| 4Q23 | 67.216 | 170.116 | 97.905 | 200.805 |
| 1Q24 | 41.925 | 109.025 | 75.247 | 142.347 |
| Summer 2023 | 34.909 | 68.909 | 55.237 | 89.237 |
| Winter 2023 | 54.570 | 139.570 | - | - |
| Summer 2024 | 23.018 | 60.018 | - | - |
| Winter 2024 | 52.698 | 137.698 | - | - |
| 2024 | 35.496 | 92.026 | 55.599 | 112.129 |
[INST]What is the peak load UK ETS and CSP adjusted spark and dark spreads price under ARA Coal 40% for 4Q23?[/INST]200.805</s>
|
<s>UK ETS and CSP adjusted spark and dark spreads £/MWh
| UK ETS and CSP | adjusted spark | and dark | spreads | £/MWh |
|--|-|-|-|-|
| | NBP | 55% | ARA Coal | 40% |
| Contract | base load | peak load | base load | peak load |
| Working day ahead | 9.054 | 29.054 | 15.028 | 35.028 |
| February | 45.716 | 89.866 | 56.087 | 100.237 |
| March | 34.378 | 58.528 | 45.622 | 69.772 |
| April | 39.467 | 73.967 | 57.893 | 92.393 |
| May | 39.393 | 73.793 | - | - |
| June | 39.148 | 73.598 | - | - |
| July | 38.823 | 75.323 | - | - |
| 2Q23 | 39.301 | 73.801 | 59.425 | 93.925 |
| 3Q23 | 30.516 | 63.966 | 51.053 | 84.503 |
| 4Q23 | 67.216 | 170.116 | 97.905 | 200.805 |
| 1Q24 | 41.925 | 109.025 | 75.247 | 142.347 |
| Summer 2023 | 34.909 | 68.909 | 55.237 | 89.237 |
| Winter 2023 | 54.570 | 139.570 | - | - |
| Summer 2024 | 23.018 | 60.018 | - | - |
| Winter 2024 | 52.698 | 137.698 | - | - |
| 2024 | 35.496 | 92.026 | 55.599 | 112.129 |
[INST]What is the base load UK ETS and CSP adjusted spark and dark spreads price under NBP 55% for Winter 2024?[/INST]52.698</s>
|
<s>UK ETS and CSP adjusted spark and dark spreads £/MWh
| UK ETS and CSP | adjusted spark | and dark | spreads | £/MWh |
|--|-|-|-|-|
| | NBP | 55% | ARA Coal | 40% |
| Contract | base load | peak load | base load | peak load |
| Working day ahead | 9.054 | 29.054 | 15.028 | 35.028 |
| February | 45.716 | 89.866 | 56.087 | 100.237 |
| March | 34.378 | 58.528 | 45.622 | 69.772 |
| April | 39.467 | 73.967 | 57.893 | 92.393 |
| May | 39.393 | 73.793 | - | - |
| June | 39.148 | 73.598 | - | - |
| July | 38.823 | 75.323 | - | - |
| 2Q23 | 39.301 | 73.801 | 59.425 | 93.925 |
| 3Q23 | 30.516 | 63.966 | 51.053 | 84.503 |
| 4Q23 | 67.216 | 170.116 | 97.905 | 200.805 |
| 1Q24 | 41.925 | 109.025 | 75.247 | 142.347 |
| Summer 2023 | 34.909 | 68.909 | 55.237 | 89.237 |
| Winter 2023 | 54.570 | 139.570 | - | - |
| Summer 2024 | 23.018 | 60.018 | - | - |
| Winter 2024 | 52.698 | 137.698 | - | - |
| 2024 | 35.496 | 92.026 | 55.599 | 112.129 |
[INST]What is the working day ahead base load UK ETS and CSP adjusted spark and dark spreads price under ARA Coal 40%?[/INST]15.028</s>
|
<s>UK ETS and CSP adjusted spark and dark spreads £/MWh
| UK ETS and CSP | adjusted spark | and dark | spreads | £/MWh |
|--|-|-|-|-|
| | NBP | 55% | ARA Coal | 40% |
| Contract | base load | peak load | base load | peak load |
| Working day ahead | 9.054 | 29.054 | 15.028 | 35.028 |
| February | 45.716 | 89.866 | 56.087 | 100.237 |
| March | 34.378 | 58.528 | 45.622 | 69.772 |
| April | 39.467 | 73.967 | 57.893 | 92.393 |
| May | 39.393 | 73.793 | - | - |
| June | 39.148 | 73.598 | - | - |
| July | 38.823 | 75.323 | - | - |
| 2Q23 | 39.301 | 73.801 | 59.425 | 93.925 |
| 3Q23 | 30.516 | 63.966 | 51.053 | 84.503 |
| 4Q23 | 67.216 | 170.116 | 97.905 | 200.805 |
| 1Q24 | 41.925 | 109.025 | 75.247 | 142.347 |
| Summer 2023 | 34.909 | 68.909 | 55.237 | 89.237 |
| Winter 2023 | 54.570 | 139.570 | - | - |
| Summer 2024 | 23.018 | 60.018 | - | - |
| Winter 2024 | 52.698 | 137.698 | - | - |
| 2024 | 35.496 | 92.026 | 55.599 | 112.129 |
[INST]What is the peak load UK ETS and CSP adjusted spark and dark spreads price under NBP 55% for July?[/INST]75.323</s>
|
<s>UK ETS and CSP adjusted spark and dark spreads £/MWh
| UK ETS and CSP | adjusted spark | and dark | spreads | £/MWh |
|--|-|-|-|-|
| | NBP | 55% | ARA Coal | 40% |
| Contract | base load | peak load | base load | peak load |
| Working day ahead | 9.054 | 29.054 | 15.028 | 35.028 |
| February | 45.716 | 89.866 | 56.087 | 100.237 |
| March | 34.378 | 58.528 | 45.622 | 69.772 |
| April | 39.467 | 73.967 | 57.893 | 92.393 |
| May | 39.393 | 73.793 | - | - |
| June | 39.148 | 73.598 | - | - |
| July | 38.823 | 75.323 | - | - |
| 2Q23 | 39.301 | 73.801 | 59.425 | 93.925 |
| 3Q23 | 30.516 | 63.966 | 51.053 | 84.503 |
| 4Q23 | 67.216 | 170.116 | 97.905 | 200.805 |
| 1Q24 | 41.925 | 109.025 | 75.247 | 142.347 |
| Summer 2023 | 34.909 | 68.909 | 55.237 | 89.237 |
| Winter 2023 | 54.570 | 139.570 | - | - |
| Summer 2024 | 23.018 | 60.018 | - | - |
| Winter 2024 | 52.698 | 137.698 | - | - |
| 2024 | 35.496 | 92.026 | 55.599 | 112.129 |
[INST]What is the base load UK ETS and CSP adjusted spark and dark spreads price under ARA Coal 40% for 2Q23?[/INST]59.425</s>
|
<s>UK ETS and CSP adjusted spark and dark spreads £/MWh
| UK ETS and CSP | adjusted spark | and dark | spreads | £/MWh |
|--|-|-|-|-|
| | NBP | 55% | ARA Coal | 40% |
| Contract | base load | peak load | base load | peak load |
| Working day ahead | 9.054 | 29.054 | 15.028 | 35.028 |
| February | 45.716 | 89.866 | 56.087 | 100.237 |
| March | 34.378 | 58.528 | 45.622 | 69.772 |
| April | 39.467 | 73.967 | 57.893 | 92.393 |
| May | 39.393 | 73.793 | - | - |
| June | 39.148 | 73.598 | - | - |
| July | 38.823 | 75.323 | - | - |
| 2Q23 | 39.301 | 73.801 | 59.425 | 93.925 |
| 3Q23 | 30.516 | 63.966 | 51.053 | 84.503 |
| 4Q23 | 67.216 | 170.116 | 97.905 | 200.805 |
| 1Q24 | 41.925 | 109.025 | 75.247 | 142.347 |
| Summer 2023 | 34.909 | 68.909 | 55.237 | 89.237 |
| Winter 2023 | 54.570 | 139.570 | - | - |
| Summer 2024 | 23.018 | 60.018 | - | - |
| Winter 2024 | 52.698 | 137.698 | - | - |
| 2024 | 35.496 | 92.026 | 55.599 | 112.129 |
[INST]What is the peak load UK ETS and CSP adjusted spark and dark spreads price under NBP 55% for 2024?[/INST]92.026</s>
|
<s>UK ETS and CSP adjusted spark and dark spreads £/MWh
| UK ETS and CSP | adjusted spark | and dark | spreads | £/MWh |
|--|-|-|-|-|
| | NBP | 55% | ARA Coal | 40% |
| Contract | base load | peak load | base load | peak load |
| Working day ahead | 9.054 | 29.054 | 15.028 | 35.028 |
| February | 45.716 | 89.866 | 56.087 | 100.237 |
| March | 34.378 | 58.528 | 45.622 | 69.772 |
| April | 39.467 | 73.967 | 57.893 | 92.393 |
| May | 39.393 | 73.793 | - | - |
| June | 39.148 | 73.598 | - | - |
| July | 38.823 | 75.323 | - | - |
| 2Q23 | 39.301 | 73.801 | 59.425 | 93.925 |
| 3Q23 | 30.516 | 63.966 | 51.053 | 84.503 |
| 4Q23 | 67.216 | 170.116 | 97.905 | 200.805 |
| 1Q24 | 41.925 | 109.025 | 75.247 | 142.347 |
| Summer 2023 | 34.909 | 68.909 | 55.237 | 89.237 |
| Winter 2023 | 54.570 | 139.570 | - | - |
| Summer 2024 | 23.018 | 60.018 | - | - |
| Winter 2024 | 52.698 | 137.698 | - | - |
| 2024 | 35.496 | 92.026 | 55.599 | 112.129 |
[INST]What is the base load UK ETS and CSP adjusted spark and dark spreads price under NBP 55% for 2024?[/INST]35.496</s>
|
<s>UK unadjusted spark spreads £/MWh
| UK unadjusted spark spreads | | £/MWh |
|--|-|-|
| | NBP | 49.13% |
| Contract | base load | peak load |
| Working day ahead | 24.572 | 44.572 |
| February | 61.870 | 106.020 |
| March | 50.433 | 74.583 |
| April | 54.995 | 89.495 |
| May | 54.613 | 89.013 |
| June | 54.386 | 88.836 |
| July | 54.154 | 90.654 |
| 2Q23 | 54.630 | 89.130 |
| 3Q23 | 45.715 | 79.165 |
| 4Q23 | 81.812 | 184.712 |
| 1Q24 | 57.479 | 124.579 |
| Summer 2023 | 50.172 | 84.172 |
| Winter 2023 | 69.646 | 154.646 |
| Summer 2024 | 41.051 | 78.051 |
| Winter 2024 | 71.515 | 156.515 |
| 2024 | 52.926 | 109.456 |
[INST]What is the base load UK unadjusted spark spreads for the 'Working day ahead?[/INST]24.572</s>
|
<s>UK unadjusted spark spreads £/MWh
| UK unadjusted spark spreads | | £/MWh |
|--|-|-|
| | NBP | 49.13% |
| Contract | base load | peak load |
| Working day ahead | 24.572 | 44.572 |
| February | 61.870 | 106.020 |
| March | 50.433 | 74.583 |
| April | 54.995 | 89.495 |
| May | 54.613 | 89.013 |
| June | 54.386 | 88.836 |
| July | 54.154 | 90.654 |
| 2Q23 | 54.630 | 89.130 |
| 3Q23 | 45.715 | 79.165 |
| 4Q23 | 81.812 | 184.712 |
| 1Q24 | 57.479 | 124.579 |
| Summer 2023 | 50.172 | 84.172 |
| Winter 2023 | 69.646 | 154.646 |
| Summer 2024 | 41.051 | 78.051 |
| Winter 2024 | 71.515 | 156.515 |
| 2024 | 52.926 | 109.456 |
[INST]What is the peak load UK unadjusted spark spreads for the 'Working day ahead?[/INST]44.572</s>
|
<s>UK unadjusted spark spreads £/MWh
| UK unadjusted spark spreads | | £/MWh |
|--|-|-|
| | NBP | 49.13% |
| Contract | base load | peak load |
| Working day ahead | 24.572 | 44.572 |
| February | 61.870 | 106.020 |
| March | 50.433 | 74.583 |
| April | 54.995 | 89.495 |
| May | 54.613 | 89.013 |
| June | 54.386 | 88.836 |
| July | 54.154 | 90.654 |
| 2Q23 | 54.630 | 89.130 |
| 3Q23 | 45.715 | 79.165 |
| 4Q23 | 81.812 | 184.712 |
| 1Q24 | 57.479 | 124.579 |
| Summer 2023 | 50.172 | 84.172 |
| Winter 2023 | 69.646 | 154.646 |
| Summer 2024 | 41.051 | 78.051 |
| Winter 2024 | 71.515 | 156.515 |
| 2024 | 52.926 | 109.456 |
[INST]What is the base load UK unadjusted spark spreads for the month of February?[/INST]61.870</s>
|
<s>UK unadjusted spark spreads £/MWh
| UK unadjusted spark spreads | | £/MWh |
|--|-|-|
| | NBP | 49.13% |
| Contract | base load | peak load |
| Working day ahead | 24.572 | 44.572 |
| February | 61.870 | 106.020 |
| March | 50.433 | 74.583 |
| April | 54.995 | 89.495 |
| May | 54.613 | 89.013 |
| June | 54.386 | 88.836 |
| July | 54.154 | 90.654 |
| 2Q23 | 54.630 | 89.130 |
| 3Q23 | 45.715 | 79.165 |
| 4Q23 | 81.812 | 184.712 |
| 1Q24 | 57.479 | 124.579 |
| Summer 2023 | 50.172 | 84.172 |
| Winter 2023 | 69.646 | 154.646 |
| Summer 2024 | 41.051 | 78.051 |
| Winter 2024 | 71.515 | 156.515 |
| 2024 | 52.926 | 109.456 |
[INST]What is the peak load UK unadjusted spark spreads for the month of February?[/INST]106.020</s>
|
<s>UK unadjusted spark spreads £/MWh
| UK unadjusted spark spreads | | £/MWh |
|--|-|-|
| | NBP | 49.13% |
| Contract | base load | peak load |
| Working day ahead | 24.572 | 44.572 |
| February | 61.870 | 106.020 |
| March | 50.433 | 74.583 |
| April | 54.995 | 89.495 |
| May | 54.613 | 89.013 |
| June | 54.386 | 88.836 |
| July | 54.154 | 90.654 |
| 2Q23 | 54.630 | 89.130 |
| 3Q23 | 45.715 | 79.165 |
| 4Q23 | 81.812 | 184.712 |
| 1Q24 | 57.479 | 124.579 |
| Summer 2023 | 50.172 | 84.172 |
| Winter 2023 | 69.646 | 154.646 |
| Summer 2024 | 41.051 | 78.051 |
| Winter 2024 | 71.515 | 156.515 |
| 2024 | 52.926 | 109.456 |
[INST]What is the base load UK unadjusted spark spreads for the month of March?[/INST]50.433</s>
|
<s>UK unadjusted spark spreads £/MWh
| UK unadjusted spark spreads | | £/MWh |
|--|-|-|
| | NBP | 49.13% |
| Contract | base load | peak load |
| Working day ahead | 24.572 | 44.572 |
| February | 61.870 | 106.020 |
| March | 50.433 | 74.583 |
| April | 54.995 | 89.495 |
| May | 54.613 | 89.013 |
| June | 54.386 | 88.836 |
| July | 54.154 | 90.654 |
| 2Q23 | 54.630 | 89.130 |
| 3Q23 | 45.715 | 79.165 |
| 4Q23 | 81.812 | 184.712 |
| 1Q24 | 57.479 | 124.579 |
| Summer 2023 | 50.172 | 84.172 |
| Winter 2023 | 69.646 | 154.646 |
| Summer 2024 | 41.051 | 78.051 |
| Winter 2024 | 71.515 | 156.515 |
| 2024 | 52.926 | 109.456 |
[INST]What is the peak load UK unadjusted spark spreads for the month of March?[/INST]74.583</s>
|
<s>UK unadjusted spark spreads £/MWh
| UK unadjusted spark spreads | | £/MWh |
|--|-|-|
| | NBP | 49.13% |
| Contract | base load | peak load |
| Working day ahead | 24.572 | 44.572 |
| February | 61.870 | 106.020 |
| March | 50.433 | 74.583 |
| April | 54.995 | 89.495 |
| May | 54.613 | 89.013 |
| June | 54.386 | 88.836 |
| July | 54.154 | 90.654 |
| 2Q23 | 54.630 | 89.130 |
| 3Q23 | 45.715 | 79.165 |
| 4Q23 | 81.812 | 184.712 |
| 1Q24 | 57.479 | 124.579 |
| Summer 2023 | 50.172 | 84.172 |
| Winter 2023 | 69.646 | 154.646 |
| Summer 2024 | 41.051 | 78.051 |
| Winter 2024 | 71.515 | 156.515 |
| 2024 | 52.926 | 109.456 |
[INST]What is the base load UK unadjusted spark spreads for the month of April?[/INST]54.995</s>
|
<s>UK unadjusted spark spreads £/MWh
| UK unadjusted spark spreads | | £/MWh |
|--|-|-|
| | NBP | 49.13% |
| Contract | base load | peak load |
| Working day ahead | 24.572 | 44.572 |
| February | 61.870 | 106.020 |
| March | 50.433 | 74.583 |
| April | 54.995 | 89.495 |
| May | 54.613 | 89.013 |
| June | 54.386 | 88.836 |
| July | 54.154 | 90.654 |
| 2Q23 | 54.630 | 89.130 |
| 3Q23 | 45.715 | 79.165 |
| 4Q23 | 81.812 | 184.712 |
| 1Q24 | 57.479 | 124.579 |
| Summer 2023 | 50.172 | 84.172 |
| Winter 2023 | 69.646 | 154.646 |
| Summer 2024 | 41.051 | 78.051 |
| Winter 2024 | 71.515 | 156.515 |
| 2024 | 52.926 | 109.456 |
[INST]What is the peak load UK unadjusted spark spreads for the month of April?[/INST]89.495</s>
|
<s>UK unadjusted spark spreads £/MWh
| UK unadjusted spark spreads | | £/MWh |
|--|-|-|
| | NBP | 49.13% |
| Contract | base load | peak load |
| Working day ahead | 24.572 | 44.572 |
| February | 61.870 | 106.020 |
| March | 50.433 | 74.583 |
| April | 54.995 | 89.495 |
| May | 54.613 | 89.013 |
| June | 54.386 | 88.836 |
| July | 54.154 | 90.654 |
| 2Q23 | 54.630 | 89.130 |
| 3Q23 | 45.715 | 79.165 |
| 4Q23 | 81.812 | 184.712 |
| 1Q24 | 57.479 | 124.579 |
| Summer 2023 | 50.172 | 84.172 |
| Winter 2023 | 69.646 | 154.646 |
| Summer 2024 | 41.051 | 78.051 |
| Winter 2024 | 71.515 | 156.515 |
| 2024 | 52.926 | 109.456 |
[INST]What is the base load UK unadjusted spark spreads for the month of May?[/INST]54.613</s>
|
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