{"id":12355,"date":"2012-07-13T00:32:11","date_gmt":"2012-07-12T22:32:11","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/euro-coal-s-african-prices-fall-1-3t\/"},"modified":"2012-07-13T00:32:11","modified_gmt":"2012-07-12T22:32:11","slug":"euro-coal-s-african-prices-fall-1-3t","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-s-african-prices-fall-1-3t\/","title":{"rendered":"Euro Coal-S.African prices fall $1-3\/T"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Coal must rise $50\/T to displace Europe gas<\/span><\/p>\n

<\/span><\/p>\n

* Prices to remain subdued – Credit Suisse<\/p>\n

<\/span><\/p>\n

LONDON, July 12<\/span> (Reuters) – South African physical prompt
\ncoal prices dropped by $1 to $3 a tonne on Thursday, pulled
\nlower by heavy selling in the swaps market, while buyers stayed
\non the sidelines.<\/p>\n

<\/span><\/p>\n

South African bids fell by around $3 to $82-$83 a tonne FOB,
\na level close to the two-year low of $81.13 reached in mid-June.<\/p>\n

<\/span><\/p>\n

“A support level is going to be found soon. We’re close to
\nit now and I don’t think there’s much room to fall,” one
\nEuropean trader said.<\/p>\n

<\/span><\/p>\n

API4 coal swaps sold heavily throughout the day, in line
\nwith weaker power prices and helped pull
\nphysical prices lower.<\/p>\n

<\/span><\/p>\n

Indian buyers, who had bought fairly heavily when South
\nAfrican spot prices were close to two-year lows in June,
\nlargely retreated when prices nudged $90 last week, and their
\nwithdrawal has trimmed a few dollars from prices, trader said.<\/p>\n

<\/span><\/p>\n

The outlook for global demand, however, was seen as fairly
\nrobust because the coal burn in Europe has been exceptionally
\nstrong in the traditionally weak summer months, while India and
\nChina had been steadily importing.<\/p>\n

<\/span><\/p>\n

Coal prices would have to rise by $50 a tonne delivered into
\nEurope – in other words to rebound to $145 from current levels –
\nto make gas-fired power plants as profitable as coal-fired
\ngeneration, Reuters data shows..
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Coal must rise $50\/T to displace Europe gas * Prices to remain subdued – Credit Suisse LONDON, July 12 (Reuters) – South African physical prompt coal prices dropped by $1 to $3 a tonne on Thursday, pulled lower by heavy selling in the swaps market, while buyers stayed on the sidelines. South African bids […]<\/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-12355","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\/12355","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=12355"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12355\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}