YANCOAL AUS (03668): Equity sales volume in the first quarter was 8.4 million tons.

YANCOAL AUS (03668) announced that in the first quarter of 2025, equity sales volume was 8.4 million tons, lower than the previous quarter and 1.1 million tons less than equity coal production. In this quarter, to take advantage of the strong coal market, some of the coal inventory consumed in the fourth quarter of 2024 was replenished due to sales timing being delayed from March to April. Most of Yancoal Australia's thermal coal sales prices are linked to the GlobalCOAL Newcastle 6000kcal thermal coal price index (GCNewc) and the API5 5500kcal thermal coal price index, with each contract adjusted based on heat value and other coal characteristics. Generally, thermal coal produced in the Hunter Valley region often has characteristics similar to the GCNewc index. On the other hand, coal produced west of the Hunter Valley often has characteristics similar to the API5 index or falls between the two. Each mining area simultaneously mines multiple coal seams, resulting in varied coal qualities depending on the mining location and blending methods during a specific period. Yancoal Australia's metallurgical coal is generally sold at prices linked to the Platts Low Vol Hard Coking Coal Australia FOB Index and the Platts Semi-Soft Coking Coal Australia FOB Index. In the first quarter of 2025, the average API5 index was $76/ton, a 13% decrease compared to the fourth quarter of 2024; the average GCNewc index was $105/ton, a 24% decrease compared to the fourth quarter of 2024. The average Platts Low Vol Hard Coking Coal index was $140/ton, an 11% decrease from the previous quarter, and the average Semi-Soft Coking Coal index was $117/ton, a 15% decrease from the previous quarter. Due to various sales contract structures and timing arrangements, Yancoal Australia's sales prices in different periods reflect previous relevant coal price indices. Factors affecting sales prices include market condition premiums (or discounts), coal washing and product specification improvement capabilities, and available coal for purchase and blending. When converted to Australian dollars, Yancoal Australia's average selling price for thermal coal in the first quarter of 2025 was $145/ton, and for metallurgical coal, it was $218/ton. The overall average selling price for Yancoal Australia in the first quarter of 2025 was $157/ton, lower than the previous quarter's $176/ton and the first quarter of 2024's $180/ton.