{"id":11763,"date":"2012-06-22T23:39:56","date_gmt":"2012-06-22T21:39:56","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/euro-coal-prices-rise-but-near-term-still-looks-grim\/"},"modified":"2012-06-22T23:39:56","modified_gmt":"2012-06-22T21:39:56","slug":"euro-coal-prices-rise-but-near-term-still-looks-grim","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-prices-rise-but-near-term-still-looks-grim\/","title":{"rendered":"Euro Coal-Prices rise but near-term still looks grim"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Aug ARA trades at $87.70<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Russia, Indonesia start to trim output<\/p>\n<p><span><\/span><\/p>\n<p>* Macquarie cuts 2012 coal price forecasts<\/p>\n<p><span><\/span><\/p>\n<p>LONDON, June 22 (Reuters) &#8211; Prompt physical coal prices shot<br \/>\nup by over $1.50 a tonne on Friday, bid higher on both swaps and<br \/>\nphysical led by a European utility, but the outlook during the<br \/>\nsummer remains grim, traders and utilities said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Almost everywhere looks bearish from a macro perspective,<br \/>\nalmost every origin of coal is close to pricing-in to Europe but<br \/>\ncoal prices went up sharply today,&#8221; one utility said.<\/p>\n<p><span><\/span><\/p>\n<p>Until sufficient output cuts are made and U.S., Colombian<br \/>\nand Russian cargoes in traders&#8217; hands are absorbed, the market<br \/>\nwill be vulnerable and could drift back to recent two-year lows,<br \/>\nthey said.<\/p>\n<p><span><\/span><\/p>\n<p>A lack of demand broadly speaking, has not been the problem.<\/p>\n<p><span><\/span><\/p>\n<p>Rather, the combination of an unexpectedly-high level of<br \/>\nU.S. exports, driven by the collapse of domestic demand, and the<br \/>\nshock impact of the fall in Chinese power use and high<br \/>\ninventories.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There are over 9 million tonnes in inventories in<br \/>\nQinhuangdao (China&#8217;s northern port from which coal is moved in<br \/>\nvast quantities to the energy hungry south), and usually the<br \/>\nnormal level is 6 million, plus high inventories in southern<br \/>\nports,&#8221; one producer 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 ARA trades at $87.70 * Russia, Indonesia start to trim output * Macquarie cuts 2012 coal price forecasts LONDON, June 22 (Reuters) &#8211; Prompt physical coal prices shot up by over $1.50 a tonne on Friday, bid higher on both swaps and physical led by a European utility, but the outlook during the [&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-11763","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\/11763","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=11763"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11763\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}