{"id":10493,"date":"2012-05-04T20:34:05","date_gmt":"2012-05-04T18:34:05","guid":{"rendered":"http:\/\/www.myza.co.za\/05\/euro-coal-ara-prices-tick-higher-china-on-sidelines\/"},"modified":"2012-05-04T20:34:05","modified_gmt":"2012-05-04T18:34:05","slug":"euro-coal-ara-prices-tick-higher-china-on-sidelines","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-ara-prices-tick-higher-china-on-sidelines\/","title":{"rendered":"Euro Coal-ARA prices tick higher, China on sidelines"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Chinese inventories, weak spot demand pressure prices<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* No fresh trades reported<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON<\/span> May 4 (Reuters) &#8211; European coal prices crept higher<br \/>\nby 25 cents a tonne on Friday as the market steadied after<br \/>\nhitting two-year lows earlier in the week on weakening<br \/>\nfundamentals.<\/p>\n<p><span><\/span><\/p>\n<p>The high level of U.S. thermal coal exports &#8211; likely to be<br \/>\naround 45-50 million tonnes this year &#8211; combined<br \/>\nwith rising Colombian exports has led to oversupply in Europe,<br \/>\nbut only because the expected demand from China and India to<br \/>\nabsorb the surplus has not yet materialised.<\/p>\n<p><span><\/span><\/p>\n<p>China has fairly high coal inventories and until they are<br \/>\nconsumed, fresh spot buying is unlikely, traders supplying the<br \/>\nChinese market said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;While exports of U.S. coal may make some economic sense we<br \/>\nbelieve their impact will continue to be marginal,&#8221; Deutsche<br \/>\nBank said in a research note on Friday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;More important to the market balance, in our view, are the<br \/>\nshort-term indicators of Chinese thermal coal demand which<br \/>\ncontinue to appear weak,&#8221; the note said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;China is very slow right now, there was some buying a<br \/>\ncouple of weeks ago, some high-ash Australian is getting in and<br \/>\nlow-grade South African, but they&#8217;ve gone very quiet now,&#8221; one<br \/>\ntrader said.<\/p>\n<p><span><\/span><\/p>\n<p>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Chinese inventories, weak spot demand pressure prices * No fresh trades reported LONDON May 4 (Reuters) &#8211; European coal prices crept higher by 25 cents a tonne on Friday as the market steadied after hitting two-year lows earlier in the week on weakening fundamentals. The high level of U.S. thermal coal exports &#8211; likely [&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-10493","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\/10493","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=10493"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10493\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}