{"id":11220,"date":"2012-06-07T23:01:30","date_gmt":"2012-06-07T21:01:30","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/euro-coal-prices-slip-by-1t-to-nudge-2-year-low\/"},"modified":"2012-06-07T23:01:30","modified_gmt":"2012-06-07T21:01:30","slug":"euro-coal-prices-slip-by-1t-to-nudge-2-year-low","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-prices-slip-by-1t-to-nudge-2-year-low\/","title":{"rendered":"Euro Coal-Prices slip by $1\/T to nudge 2-year low"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Jly ARA bid at $83\/T, down $3 but no trades reported<\/span><\/p>\n

<\/span><\/p>\n

* High China inventories, delayed discharging seen<\/p>\n

<\/span><\/p>\n

LONDON, June 7<\/span> (Reuters) – European prompt physical coal
\nprices dropped by around $1 a tonne for a second day running,
\ntouching the two-year low of $85.00 reached in May, on
\nexpectations for more delays and price renegotiations by Chinese
\nbuyers in coming weeks.<\/p>\n

<\/span><\/p>\n

A July delivery DES ARA cargo was bid at $83.00 and offered
\nat $85.00 a tonne, down $3.00 on the offer from Wednesday’s
\nlevel.<\/p>\n

<\/span><\/p>\n

Demand in Europe has been so minimal that neither utilities
\nnor traders for the most part, need or want to buy prompt
\ncargoes at present, they said.<\/p>\n

<\/span><\/p>\n

Active buying of API2 coal swaps by U.S. coal firms gave
\nprices some support in early trading, but physical prices
\nignored swaps and slipped, with no fresh trades reported.<\/p>\n

<\/span><\/p>\n

The absence this week of some of the market’s most active
\ntraders also hampered liquidity, they said.<\/p>\n

<\/span><\/p>\n

Inventories have been high at Chinese ports, causing
\ncontinued delays to vessels being discharged and hydro reservoir
\nlevels are high, which could trim the need for coal-fired power
\nduring the summer season of peak air-conditioning demand,
\nsuppliers said.<\/p>\n

<\/span><\/p>\n

“This is China, this is not new. All these problems and
\ngames have been seen before whenever the price crashes,” said
\none trader with a prompt cargo of South African coal destined
\nfor China.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Jly ARA bid at $83\/T, down $3 but no trades reported * High China inventories, delayed discharging seen LONDON, June 7 (Reuters) – European prompt physical coal prices dropped by around $1 a tonne for a second day running, touching the two-year low of $85.00 reached in May, on expectations for more delays and […]<\/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-11220","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\/11220","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=11220"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11220\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}