{"id":10349,"date":"2012-04-30T20:29:06","date_gmt":"2012-04-30T18:29:06","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/euro-coal-des-hits-fresh-2-yr-low-at-90-50t\/"},"modified":"2012-04-30T20:29:06","modified_gmt":"2012-04-30T18:29:06","slug":"euro-coal-des-hits-fresh-2-yr-low-at-90-50t","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-des-hits-fresh-2-yr-low-at-90-50t\/","title":{"rendered":"Euro Coal-DES hits fresh 2-yr low at $90.50\/T"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* May ARA bid at $87.25\/T<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* June ARA trades at $90.50, down over $2\/T<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, April 30<\/span> (Reuters) &#8211; European prompt physical coal<br \/>\nprices slid $2.50 a tonne to a new two-year low of $90.50 a<br \/>\ntonne on Monday, pushed down by weak fundamentals.<\/p>\n<p><span><\/span><\/p>\n<p>A June DES ARA cargo traded at $90.50 early on Monday, down<br \/>\nfrom the previous trade last week at $93.15.<\/p>\n<p><span><\/span><\/p>\n<p>An even more dramatic price fall was seen in prompt May ARA<br \/>\ncargoes, which were offered at prices below $90.00 on Monday.<\/p>\n<p><span><\/span><\/p>\n<p>A May ARA cargo was bid at $87.25 and offered at $89.75 on<br \/>\ntrading platform globalCOAL.<\/p>\n<p><span><\/span><\/p>\n<p>A drop below $90.00 was seen as a strong bearish signal by<br \/>\nmany market participants, some of whom predicted that support at<br \/>\n$85.00 would also soon be broken given the lack of spot demand<br \/>\nin Europe.<\/p>\n<p><span><\/span><\/p>\n<p>Prompt DES ARA coal prices have not been this low since the<br \/>\nautumn of 2010 and are poised to fall further, possibly to break<br \/>\nbelow $85.00, utilities and traders said.<\/p>\n<p><span><\/span><\/p>\n<p>At $85.00 a tonne or even lower prices, it will still be<br \/>\npossible for more coal to be shipped than can be consumed,<br \/>\nleaving the market with a surplus.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* May ARA bid at $87.25\/T * June ARA trades at $90.50, down over $2\/T LONDON, April 30 (Reuters) &#8211; European prompt physical coal prices slid $2.50 a tonne to a new two-year low of $90.50 a tonne on Monday, pushed down by weak fundamentals. A June DES ARA cargo traded at $90.50 early on [&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-10349","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\/10349","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=10349"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10349\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}