* April DES bid at $93/T
* April S.African bid at $103.25/T
LONDON, March 2 (Reuters) – Prompt physical coal
prices were little changed on Friday after a day of quiet
trading and little direction from either the oil or gas markets.
European DES ARA prices had fallen for three days in a row,
pressed by the flow of U.S. coal into Europe and weak demand
from utilities.
There was more interest on Friday in index-linked trades
than in fixed price, with players haggling over every 5 cents
but still unable to reach a deal, traders said.
“There’s been very limited appetite to trade. People are
unsure,” one European trader said.
This is typical of the coal market when it lacks direction,
traders said.
UK prompt gas prices softened due to warmer weather and
lower demand, and oil dropped, but neither had much impact on
coal values.
South African prompt prices also held steady with no fresh
trades reported.
Continued…
