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####Instruction: What is the forward buy price of API 2 for February as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 170.00
####Instruction: What is the forward sell price of API 2 for February as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 170.50
####Instruction: What is the forward average price of API 2 for February as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 170.25
####Instruction: What is the forward buy price of API 2 for March as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 169.90
####Instruction: What is the forward sell price of API 2 for March as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 170.40
####Instruction: What is the forward average price of API 2 for March as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 170.15
####Instruction: What is the forward buy price of API 2 for April as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 168.75
####Instruction: What is the forward sell price of API 2 for April as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 169.25
####Instruction: What is the forward average price of API 2 for April as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 169.00
####Instruction: What is the forward buy price of API 2 for 1Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 170.45
####Instruction: What is the forward sell price of API 2 for 1Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 170.95
####Instruction: What is the forward average price of API 2 for 1Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 170.70
####Instruction: What is the forward buy price of API 2 for 2Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 167.95
####Instruction: What is the forward sell price of API 2 for 2Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 168.45
####Instruction: What is the forward average price of API 2 for 2Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 168.20
####Instruction: What is the forward buy price of API 2 for 3Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 170.50
####Instruction: What is the forward sell price of API 2 for 3Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 171.00
####Instruction: What is the forward average price of API 2 for 3Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 170.75
####Instruction: What is the forward buy price of API 2 for 4Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 171.00
####Instruction: What is the forward sell price of API 2 for 4Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 171.50
####Instruction: What is the forward average price of API 2 for 4Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 171.25
####Instruction: What is the forward buy price of API 2 for 1Q24 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 170.25
####Instruction: What is the forward sell price of API 2 for 1Q24 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 170.75
####Instruction: What is the forward average price of API 2 for 1Q24 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 170.50
####Instruction: What is the forward buy price of API 2 for 2024 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 166.40
####Instruction: What is the forward sell price of API 2 for 2024 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 166.90
####Instruction: What is the forward average price of API 2 for 2024 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 166.65
####Instruction: What is the forward buy price of API 2 for 2025 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 156.75
####Instruction: What is the forward sell price of API 2 for 2025 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 157.25
####Instruction: What is the forward average price of API 2 for 2025 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 157.00
####Instruction: What is the forward buy price of API 2 for 2026 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 147.10
####Instruction: What is the forward sell price of API 2 for 2026 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 147.60
####Instruction: What is the forward average price of API 2 for 2026 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 147.35
####Instruction: What is the forward buy price of API 4 for February as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 173.20
####Instruction: What is the forward sell price of API 4 for February as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 173.70
####Instruction: What is the forward average price of API 4 for February as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 173.45
####Instruction: What is the forward buy price of API 4 for March as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 173.60
####Instruction: What is the forward sell price of API 4 for March as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 174.10
####Instruction: What is the forward average price of API 4 for March as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 173.85
####Instruction: What is the forward buy price of API 4 for April as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 162.75
####Instruction: What is the forward sell price of API 4 for April as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 163.25
####Instruction: What is the forward average price of API 4 for April as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 163.00
####Instruction: What is the forward buy price of API 4 for 1Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 172.20
####Instruction: What is the forward sell price of API 4 for 1Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 172.70
####Instruction: What is the forward average price of API 4 for 1Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 172.45
####Instruction: What is the forward buy price of API 4 for 2Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 159.10
####Instruction: What is the forward sell price of API 4 for 2Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 159.60
####Instruction: What is the forward average price of API 4 for 2Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 159.35
####Instruction: What is the forward buy price of API 4 for 3Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 156.75
####Instruction: What is the forward sell price of API 4 for 3Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 157.25
####Instruction: What is the forward average price of API 4 for 3Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 157.00
####Instruction: What is the forward buy price of API 4 for 4Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 152.50
####Instruction: What is the forward sell price of API 4 for 4Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 153.00
####Instruction: What is the forward average price of API 4 for 4Q23 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 152.75
####Instruction: What is the forward buy price of API 4 for 1Q24 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 148.25
####Instruction: What is the forward sell price of API 4 for 1Q24 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 148.75
####Instruction: What is the forward average price of API 4 for 1Q24 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 148.50
####Instruction: What is the forward buy price of API 4 for 2024 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 152.65
####Instruction: What is the forward sell price of API 4 for 2024 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 153.15
####Instruction: What is the forward average price of API 4 for 2024 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 152.90
####Instruction: What is the forward buy price of API 4 for 2025 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 145.25
####Instruction: What is the forward sell price of API 4 for 2025 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 145.75
####Instruction: What is the forward average price of API 4 for 2025 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 145.50
####Instruction: What is the forward buy price of API 4 for 2026 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 137.85
####Instruction: What is the forward sell price of API 4 for 2026 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 138.35
####Instruction: What is the forward average price of API 4 for 2026 as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: 138.10
####Instruction: What is the forward buy price of API 2 premium to API 4 for Prompt as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: -3.45
####Instruction: What is the forward sell price of API 2 premium to API 4 for Prompt as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: -2.95
####Instruction: What is the forward average price of API 2 premium to API 4 for Prompt as per report dated Friday 6 January 2023? ####Context: 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 | ####Response: -3.20
####Instruction: What is the forward buy price of API 2 for February as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 171.00
####Instruction: What is the forward sell price of API 2 for February as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 171.50
####Instruction: What is the forward average price of API 2 for February as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 171.25
####Instruction: What is the forward buy price of API 2 for March as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 170.00
####Instruction: What is the forward sell price of API 2 for March as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 170.50
####Instruction: What is the forward average price of API 2 for March as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 170.25
####Instruction: What is the forward buy price of API 2 for April as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 169.00
####Instruction: What is the forward sell price of API 2 for April as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 169.50
####Instruction: What is the forward average price of API 2 for April as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 169.25
####Instruction: What is the forward buy price of API 2 for 1Q23 as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 171.70
####Instruction: What is the forward sell price of API 2 for 1Q23 as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 172.20
####Instruction: What is the forward average price of API 2 for 1Q23 as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 171.95
####Instruction: What is the forward buy price of API 2 for 2Q23 as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 169.20
####Instruction: What is the forward sell price of API 2 for 2Q23 as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 169.70
####Instruction: What is the forward average price of API 2 for 2Q23 as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 169.45
####Instruction: What is the forward buy price of API 2 for 3Q23 as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 171.75
####Instruction: What is the forward sell price of API 2 for 3Q23 as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 172.25
####Instruction: What is the forward average price of API 2 for 3Q23 as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 172.00
####Instruction: What is the forward buy price of API 2 for 4Q23 as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 172.25
####Instruction: What is the forward sell price of API 2 for 4Q23 as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 172.75
####Instruction: What is the forward average price of API 2 for 4Q23 as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 172.50
####Instruction: What is the forward buy price of API 2 for 1Q24 as per report dated Friday 7 January 2023? ####Context: 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 | ####Response: 171.50
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