* Aug S. African trades at $84.15/T FOB
* Coal swaps fall in line with power
LONDON, July 11 (Reuters) – South African physical prompt
coal prices fell sharply for the fourth day running as more
sellers emerged and buyers withdrew, waiting for lower numbers.
“There were far more buyers a few weeks ago but for August
cargoes in particular, it seems to be almost all sellers,” one
trader said.
API4 coal swaps were also sold heavily throughout the day,
in line with weaker power prices and helped pull
physical prices lower.
Coal ignored the rise in oil, which was boosted by
expectations that there may be more signals of economic stimulus
from the U.S. Federal Reserve.
Indian buyers, who had bought fairly heavily when South
African spot prices were close to two-year lows in June,
largely retreated when prices nudged $90 last week, and their
withdrawal has trimmed a few dollars from prices, trader said.
TRADES
An August loading South African cargo traded at $84.15 a tonne
FOB Richards Bay, down $2.35 from Tuesday.
Continued…
