{"id":11349,"date":"2012-06-11T23:08:57","date_gmt":"2012-06-11T21:08:57","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/euro-coal-ara-trades-at-two-year-low-of-84-90t\/"},"modified":"2012-06-11T23:08:57","modified_gmt":"2012-06-11T21:08:57","slug":"euro-coal-ara-trades-at-two-year-low-of-84-90t","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-ara-trades-at-two-year-low-of-84-90t\/","title":{"rendered":"Euro Coal-ARA trades at two-year low of $84.90\/T"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Chinese buyers on sidelines, S.Korea issues tenders<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* July S.African cargo bid at $82\/T<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, June 11<\/span> (Reuters) &#8211; European delivered coal prices<br \/>\ntraded at a fresh two-year low of $84.90 a tonne on Monday, down<br \/>\nover $1.00 from Friday as oversupply and a slowdown in spot<br \/>\nbuying weighed on the market.<\/p>\n<p><span><\/span><\/p>\n<p>Spot demand in Europe has been limited this year, leaving<br \/>\nsuppliers increasingly dependent upon Asian demand so the sharp<br \/>\nslowdown in Chinese spot buying during the past week has a<br \/>\nmagnified impact.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There&#8217;s so little buying overall, nothing wanted in China<br \/>\nnow, they have hit their maximum import capacity and can&#8217;t<br \/>\nphysically take more till inventories start to be used,&#8221; one<br \/>\ntrader said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Without China buying at the moment, there is coal with<br \/>\nnowhere else to go,&#8221; he added.<\/p>\n<p><span><\/span><\/p>\n<p>An August delivery DES ARA parcel traded at $84.90, 50 cents<br \/>\nbelow the low of $85.00 reached in mid-May but further falls are<br \/>\nlikely, traders and utilities said.<\/p>\n<p><span><\/span><\/p>\n<p>In the meantime, others in Asia such as South Korea are<br \/>\nbuying, but not enough to make up for China&#8217;s lack of activity.<\/p>\n<p><span><\/span><\/p>\n<p>South African prompt prices have also come under pressure<br \/>\nfrom weak fundamentals and have now dropped back below DES ARA<br \/>\nlevels, having been at a strong premium for months.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Chinese buyers on sidelines, S.Korea issues tenders * July S.African cargo bid at $82\/T LONDON, June 11 (Reuters) &#8211; European delivered coal prices traded at a fresh two-year low of $84.90 a tonne on Monday, down over $1.00 from Friday as oversupply and a slowdown in spot buying weighed on the market. Spot demand [&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-11349","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\/11349","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=11349"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11349\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}