{"id":10286,"date":"2012-04-26T04:31:45","date_gmt":"2012-04-26T02:31:45","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/euro-coal-prompt-falls-1-50-on-oversupply-power\/"},"modified":"2012-04-26T04:31:45","modified_gmt":"2012-04-26T02:31:45","slug":"euro-coal-prompt-falls-1-50-on-oversupply-power","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-prompt-falls-1-50-on-oversupply-power\/","title":{"rendered":"Euro Coal-Prompt falls $1.50 on oversupply, power"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* June ARA bid at $91.50\/T<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Coal oversupply pressures prompt<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, April 25<\/span> (Reuters) &#8211; European prompt physical coal<br \/>\nprices dropped by around $1.50 on Wednesday in line with weaker<br \/>\npower demand, and with mounting pressure on prompt values due to<br \/>\ncoal oversupply.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Both swaps and physical came off fairly strongly today,<br \/>\nwith a lot of pressure on the prompt months &#8211; there&#8217;s just too<br \/>\nmuch coal,&#8221; one utility source said.<\/p>\n<p><span><\/span><\/p>\n<p>A June DES ARA cargo was bid at $91.50 a tonne, down from<br \/>\nover $93.00 earlier in the week and although it did not trade at<br \/>\nthis level, fundamental bearish pressure should push prices down<br \/>\nanother notch within the next couple of weeks.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Probably $91.50 won&#8217;t seem so low fairly soon,&#8221; one trader<br \/>\nsaid.<\/p>\n<p><span><\/span><\/p>\n<p>Despite strong coal burn in the UK, Germany, Italy and<br \/>\nSpain, there is still a substantial amount of coal in ARA<br \/>\ninventories &#8211; up to 9 million tonnes, according to some industry<br \/>\nsources.<\/p>\n<p><span><\/span><\/p>\n<p>Most European spot electricity prices fell on Wednesday on<br \/>\nwarmer weather and more German wind power supply, while the May<br \/>\n1 holiday in major power consuming countries weighed on demand.<\/p>\n<p><span><\/span><\/p>\n<p>Most European utilities will need to buy a limited amount of<br \/>\nspot tonnage, but the Mediterranean plants are likely to need<br \/>\nmore significant spot volumes.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* June ARA bid at $91.50\/T * Coal oversupply pressures prompt LONDON, April 25 (Reuters) &#8211; European prompt physical coal prices dropped by around $1.50 on Wednesday in line with weaker power demand, and with mounting pressure on prompt values due to coal oversupply. &#8220;Both swaps and physical came off fairly strongly today, with a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-10286","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=10286"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10286\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}