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\t\t<\/span><\/p>\n <\/span><\/p>\n \n \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":" * July ARA trades at $88\/T * May ARA bid at $83 LONDON, May 2 (Reuters) – European coal prices slid by $3 on Wednesday to $88 a tonne, having touched two-year lows the day before, and the drop in prices drew out some buying. Traders and some utilities bought July cargoes at $88.00 a […]<\/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-10421","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\/10421","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=10421"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10421\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}* July ARA trades at $88\/T\n * May ARA bid at $83\n\n LONDON, May 2 (Reuters) - European coal prices slid by $3 on\nWednesday to $88 a tonne, having touched two-year lows the day\nbefore, and the drop in prices drew out some buying.\t\n Traders and some utilities bought July cargoes at $88.00 a\ntonne DES ARA, down from $91 on Tuesday.\t\n The discount of prompt to forward prices makes it viable to\nstore the coal for months or re-sell an unwanted second-half\ncargo and replace it with a cheaper fresh purchase.\t\n Three July DES ARA cargoes traded on Wednesday at $88.00,\ntwo of which were bought by a trader at a utility.\t\n \"If you look at the fixed prices for these (July) trades\ncompared with coal paper (swaps), they were done at $3.50 below\nswaps, and for any utility that's got to be attractive,\" one\nEuropean trader said.\t\n European utilities seek to buy fuel at a discount to the\nswaps they use to hedge their price risk and to achieve the\nbiggest discounts to swaps possible.\t\n \"It could go lower, but a lot depends on the weather and how\nmuch renewables come into play, and nobody can predict that\naccurately now,\" a utility source said.\t\n On Tuesday, prompt European delivered coal prices fell to\ntheir lowest since May 2010 with a trade at $86.25 a tonne\ndelivered in the Amsterdam-Rotterdam-Antwerp (ARA) area on the\nglobalCOAL trading platform, traders said.\t\n That price was at a discount of $3.25 to equivalent API2 coal\nswaps benchmarks, signalling the start of a long-awaited bout of\nselling. \t\n Normally the physical and the swaps markets are more closely\naligned and a discount of physical coal to swaps is usually seen\nas an indicator of market weakness.\t\n \t\n South African FOB Richards Bay prices were steady at around\n$97 a tonne, little changed from earlier in the week.\t\n There has been enough Indian spot buying to keep prices\nstable because supply out of Richards Bay remains tight,\nproducers and traders said.\t\n \t\n TRADES\t\n Three July DES ARA cargoes traded at $88, down $3.00 from\nthe day before.\t\n \t\n PRICES\t\n A May DES ARA cargo was bid at $83.00 and offered at $86.50,\ndown $3.00 on the bid from the previous day's levels.\t\n A June ARA cargo was bid at $84 and offered at $86.75, also\ndown over $2.00.\t\n\t\n (Reporting by Jacqueline Cowhig, editing by Jane Baird)<\/pre>\n