LONDON Oct 24 (Reuters) – South African prompt physical
coal prices fell to the lowest levels since late December 2009
on Wednesday, extending a month-long decline, with a trade at
$77.00 a tonne FOB for a November cargo, traders said.
Sluggish spot demand in India and China, two of the biggest
buyers of South African material on a spot basis, and abundant
availability of cheaper coal from other countries have weighed
on prices during the past month.
Prices have fallen from over $100 a tonne FOB Richards Bay
in Q2 and have further to fall unless demand revives.
(Reporting by Jacqueline Cowhig; editing by Jane Baird)
© Thomson Reuters 2012 All rights reserved
