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Euro Coal-Prices rise slightly with oil

8 March 2012 By admin

* EDP to award tender for U.S., Colombian cargoes
    * Lack of space may limit ARA stockpiling

    LONDON, March 7 (Reuters) - Prompt physical coal
prices rose slightly by 20-75 U.S. cents a tonne on Wednesday
with stronger oil and the euro's gains but activity was muted
and no fresh physical trades were reported.	
    Portugal's EDP is tendering for several cargoes of
U.S. or Colombian coal for 2012 delivery and is expected to
award by early next week but otherwise end-user buying has been
quiet and below the radar, suppliers said.	
    Utility traders continue to quietly shed unwanted cargoes
still arriving into Europe and there is limited buying of prompt
material to store until Q4 to take advantage of the current
contango.	
    There might be more stockpile space available at terminals
in ARA during the spring months for leasing by traders and banks
which are not usual terminal customers but this would depend on
what the utilities themselves need.	
        	
     
  	
                   	
    PRICES               	
    An April South African cargo was bid at $103.50 and offered
at $104.50, around 20 cents higher on the bid.	
    A May South African cargo was bid at $103.25, also up around
20 cents.  	
   An April DES ARA cargo was bid at $95.75 and offered at
$98.50, up 75 cents.      	
   A May DES cargo was bid at $96.75 and offered at $98.50, up
50 cents on the bid.	
	
 (Reporting by Jacqueline Cowhig; editing by James Jukwey)

© Thomson Reuters 2012 All rights reserved





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Filed Under: South Africa Tagged With: news, reuters, south africa

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