{"id":11394,"date":"2012-06-12T23:09:48","date_gmt":"2012-06-12T21:09:48","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/euro-coal-bids-slump-but-no-fresh-trades-done\/"},"modified":"2012-06-12T23:09:48","modified_gmt":"2012-06-12T21:09:48","slug":"euro-coal-bids-slump-but-no-fresh-trades-done","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-bids-slump-but-no-fresh-trades-done\/","title":{"rendered":"Euro Coal-Bids slump but no fresh trades done"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* July S.African cargo bid at $79.00<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* July ARA cargo bid at $77.00<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, June 12<\/span> (Reuters) &#8211; European delivered coal prices<br \/>\nslid sharply on Tuesday as oversupply and a halt to spot buying<br \/>\nweighed on the market, pushing bid\/offer levels to fresh lows<br \/>\nalthough no trades were reported.<\/p>\n<p><span><\/span><\/p>\n<p>South African prompt prices have tumbled during the past<br \/>\nweek from nearly $90 a tonne FOB to below $80 &#8211; a July cargo was<br \/>\nbid at $79.00 early on Tuesday &#8211; as spot buyers remained on the<br \/>\nsidelines.<\/p>\n<p><span><\/span><\/p>\n<p>Asian spot demand has shrivelled because South Korea, Japan<br \/>\nand Taiwan are not buying enough to compensate for the hiatus in<br \/>\nChina&#8217;s purchases, traders and suppliers said.<\/p>\n<p><span><\/span><\/p>\n<p>Inventories in China are high at northern and southern ports<br \/>\nand at power plants, Chinese shipping sources said.<\/p>\n<p><span><\/span><\/p>\n<p>Until these inventories are reduced, importers will not buy,<br \/>\nthey said.<\/p>\n<p><span><\/span><\/p>\n<p>South African coal, which is mostly shipped to Asia now, is<br \/>\nalmost low enough in price to be sold into the European market,<br \/>\ntraders said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Richards Bay coal only needs to fall another $2 and it will<br \/>\nprice into Europe, although not for very long,&#8221; one trader said.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* July S.African cargo bid at $79.00 * July ARA cargo bid at $77.00 LONDON, June 12 (Reuters) &#8211; European delivered coal prices slid sharply on Tuesday as oversupply and a halt to spot buying weighed on the market, pushing bid\/offer levels to fresh lows although no trades were reported. South African prompt prices have [&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-11394","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\/11394","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=11394"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11394\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}