{"id":11516,"date":"2012-06-15T23:23:53","date_gmt":"2012-06-15T21:23:53","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/euro-coal-prices-stable-fobs-under-pressure\/"},"modified":"2012-06-15T23:23:53","modified_gmt":"2012-06-15T21:23:53","slug":"euro-coal-prices-stable-fobs-under-pressure","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-prices-stable-fobs-under-pressure\/","title":{"rendered":"Euro Coal-Prices stable, FOBs under pressure"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Aug S.African cargo trades at flat to API4 index<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Chinese ports congested after H1 buying spree<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, June 15<\/span> (Reuters) &#8211; South African FOB prices were<br \/>\n30-75 cents a tonne higher on Friday afternoon, a minimal move<br \/>\nupwards, but all FOB coal prices remained under pressure from<br \/>\noversupply and weak spot demand.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Prices moved very slightly higher in early trading, with<br \/>\npower, gas and a fall in the euro but overall it&#8217;s still looking<br \/>\nweak,&#8221; one European trader said.<\/p>\n<p><span><\/span><\/p>\n<p>A July loading South African cargo was bid at $81.00 on<br \/>\nFriday, up 75 cents from Thursday&#8217;s bid level and following two<br \/>\nAugust trades on Thursday at $81.65.<\/p>\n<p><span><\/span><\/p>\n<p>Very few South African cargoes have been sold into Europe in<br \/>\nthe past week and more players are looking for freight from<br \/>\nRichards Bay to ARA but this is being driven more by a choice of<br \/>\nEuropean over Chinese counterparty risk than anything else.<\/p>\n<p><span><\/span><\/p>\n<p>The gap between FOB and DES prices is still too narrow to<br \/>\nreflect the actual, minimal, freight cost of around $5.00 a<br \/>\ntonne on a capesize vessel so the seller&#8217;s profit margin would<br \/>\nbe less with a European sale but the risk is also perceived as<br \/>\nless and the deal more worthwhile, suppliers said.<\/p>\n<p><span><\/span><\/p>\n<p>They said it was better to be paid less than not at all.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;South African still doesn&#8217;t quite work into Europe and some<br \/>\nis being done but probably not for 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>* Aug S.African cargo trades at flat to API4 index * Chinese ports congested after H1 buying spree LONDON, June 15 (Reuters) &#8211; South African FOB prices were 30-75 cents a tonne higher on Friday afternoon, a minimal move upwards, but all FOB coal prices remained under pressure from oversupply and weak spot demand. &#8220;Prices [&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-11516","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\/11516","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=11516"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11516\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}