{"id":10995,"date":"2012-06-01T22:30:56","date_gmt":"2012-06-01T20:30:56","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/euro-coal-prices-stable-china-cargoes-absorbed\/"},"modified":"2012-06-01T22:30:56","modified_gmt":"2012-06-01T20:30:56","slug":"euro-coal-prices-stable-china-cargoes-absorbed","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-prices-stable-china-cargoes-absorbed\/","title":{"rendered":"Euro Coal-Prices stable, China cargoes absorbed"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* China cargoes re-sold to Asia, Mediterranean -trade<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Supply cuts needed to firm prices -analysts<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, June 1<\/span> (Reuters) &#8211; European prompt physical coal<br \/>\nprices steadied on Friday after slipping for most of the week,<br \/>\nwhile many players were sidelined ahead of a UK public holiday<br \/>\nand after most cargoes re-priced into China or re-sold elsewhere<br \/>\nwere absorbed, traders and utilities said.<\/p>\n<p><span><\/span><\/p>\n<p>No fresh trades were reported, and few bids or offers were<br \/>\nseen.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It looks as if prices have almost found a bottom. We don&#8217;t<br \/>\nthink they&#8217;ll fall much further from current levels,&#8221; one<br \/>\nutility said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The ARA cargoes which traded at $3 below the index, were<br \/>\noriginally for China, and others have been absorbed elsewhere in<br \/>\nAsia, in the Mediterranean, into Turkey,&#8221; he added.<\/p>\n<p><span><\/span><\/p>\n<p>Fresh buying by Chinese utilities and trader importers has<br \/>\nencouraged hope of continued strong imports by China, although<br \/>\ntraders said it was too early to tell whether this would be<br \/>\nenough to absorb the global surplus, especially given the gloomy<br \/>\neuro zone economic outlook.<\/p>\n<p><span><\/span><\/p>\n<p>Although Chinese re-negotiation of spot contract prices is<br \/>\nlikely to continue for the next couple of months as the last<br \/>\nhigh-priced cargoes become due for shipment, a market panic two<br \/>\nweeks ago that a slowdown in Chinese growth spelled doom for<br \/>\ncoal prices seems to have eased.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Although stronger growth in H2 (look for 8-9 percent) will<br \/>\nbe a positive for commodity demand, it is unlikely to be<br \/>\nsufficient to push prices materially higher in the near term,<br \/>\ngiven continued euro headwinds,&#8221; Credit Suisse said in a<br \/>\nresearch note on Friday.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* China cargoes re-sold to Asia, Mediterranean -trade * Supply cuts needed to firm prices -analysts LONDON, June 1 (Reuters) &#8211; European prompt physical coal prices steadied on Friday after slipping for most of the week, while many players were sidelined ahead of a UK public holiday and after most cargoes re-priced into China or [&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-10995","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\/10995","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=10995"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10995\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}