{"id":11827,"date":"2012-06-25T23:54:53","date_gmt":"2012-06-25T21:54:53","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/euro-coal-stable-eyes-on-output-cuts\/"},"modified":"2012-06-25T23:54:53","modified_gmt":"2012-06-25T21:54:53","slug":"euro-coal-stable-eyes-on-output-cuts","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-stable-eyes-on-output-cuts\/","title":{"rendered":"Euro Coal-Stable, eyes on output cuts"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Brent dips below $90, coal swaps follow<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Traders stop speculative shipments to China<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, June 25<\/span> (Reuters) &#8211; Prompt physical coal prices were<br \/>\nunchanged on Monday although swaps slipped by around 50 U.S.<br \/>\ncents in line with oil&#8217;s fall but no fresh trades were reported<br \/>\nand few bids or offers were seen.<\/p>\n<p><span><\/span><\/p>\n<p>Brent crude briefly fell below $90 on Monday with concerns<br \/>\nabut faltering global growth and Europe&#8217;s debt crisis hitting<br \/>\ninvestor confidence.<\/p>\n<p><span><\/span><\/p>\n<p>When coal trading activity is especially thin, the market<br \/>\ntends to drift with oil until it finds its own direction.<\/p>\n<p><span><\/span><\/p>\n<p>The short-term outlook remains fairly bearish despite an<br \/>\nincrease in Indian prompt buying and trader short-covering.<\/p>\n<p><span><\/span><\/p>\n<p>Traders waited to see who will cut output, when and by how<br \/>\nmuch, at the same time as watching for signs of robust Chinese<br \/>\ndemand for the summer and beyond.<\/p>\n<p><span><\/span><\/p>\n<p>Until sufficient output cuts are made and U.S., Colombian and<br \/>\nRussian cargoes in traders&#8217; hands are absorbed, the market will<br \/>\nbe vulnerable and could drift back to recent two-year lows, they<br \/>\nsaid.<\/p>\n<p><span><\/span><\/p>\n<p>Production cuts have begun to be made in the U.S., Russia<br \/>\nand Indonesia but could take a few months to be felt in stronger<br \/>\nprices which in turn would reduce a repeat of the widespread<br \/>\nprice re-negotiation by Chinese buyers which spooked the market<br \/>\nlast month.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Brent dips below $90, coal swaps follow * Traders stop speculative shipments to China LONDON, June 25 (Reuters) &#8211; Prompt physical coal prices were unchanged on Monday although swaps slipped by around 50 U.S. cents in line with oil&#8217;s fall but no fresh trades were reported and few bids or offers were seen. Brent [&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-11827","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\/11827","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=11827"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11827\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}