* Nov S.African trades at $80.50/T
* A December DES ARA cargo traded at $86.75/T
LONDON Oct 19 (Reuters) – Prompt physical coal prices were
again little changed on Friday although a few trades were
reported.
Coal largely ignored oil’s rise to $113 a barrel after an
early short-lived rally in coal swaps.
“The market is stuck in a range again but there’s pressure
on the November South African prices now, very little demand and
people have cargoes to move,” one European trader said.
The mood at the Coaltrans Istanbul conference earlier this
week was generally gloomy with no real expectation of a price
improvement in the short-term and a finely-balanced market still
tending to surplus foreseen for 2013.
“The European market is terrible for thermal coal, for PCI
(pulverised coal) and coking coal and most people have given up
totally with China for now,” said one Russian exporter just
returned from the conference.
At least one prompt cargo of Russian PCI was sold into
Europe for more than $110 a tonne FOB but buyers, particularly
in Asia, were holding out for prices $5 lower at least.
Continued…
