{"id":12721,"date":"2012-07-25T01:29:45","date_gmt":"2012-07-24T23:29:45","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/euro-coal-prices-steady-more-china-defaults-seen\/"},"modified":"2012-07-25T01:29:45","modified_gmt":"2012-07-24T23:29:45","slug":"euro-coal-prices-steady-more-china-defaults-seen","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-prices-steady-more-china-defaults-seen\/","title":{"rendered":"Euro Coal-Prices steady, more China defaults seen"},"content":{"rendered":"

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

* Oct DES ARA trades at $89.50\/T, up 50 cents<\/span><\/p>\n

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

* Sellers brace for further price slide<\/p>\n

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

LONDON, July 24<\/span> (Reuters) – Physical prompt coal prices were
\nlittle changed on Tuesday, supported by oil’s rise towards $104,
\nbut were set to come under renewed downward pressure in coming
\nweeks because of another wave of Chinese defaults and forced
\nprice re-negotiation, traders and utilities said.<\/p>\n

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

Prompt cargoes for delivery into Europe have held at around
\n$90 a tonne for the past few days while South African prices
\nhave been slipping a little due as Indian buyers hold off in
\nanticipation of bargains.<\/p>\n

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

Atlantic and Pacific-based sellers said they were bracing
\nthemselves for another slide in prices as more genuinely
\ndistressed cargoes – unwanted by the contracted buyer – are
\noffered at whatever price can be achieved.<\/p>\n

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

“I thought the South African price had reached a floor of
\n$85 a tonne but with China, the situation with defaults has
\nbecome so much worse in the past two weeks, prices have got to
\nfall further,” one Asia-based trader said.<\/p>\n

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

“I’ve re-negotiated the price twice already with one Chinese
\ntrade buyer and I’m just hoping prices don’t move, at all, until
\nit loads, or they will run,” he said.<\/p>\n

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

Indonesian coal producers said they were also just watching
\nthe market price and hoping for the best.<\/p>\n

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

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

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

TRADES
\n An October DES ARA cargo traded at $89.50, up 50 cents. <\/p>\n

(Reporting by Jacqueline Cowhig, editing by William Hardy)<\/p>\n

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

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

* Oct DES ARA trades at $89.50\/T, up 50 cents * Sellers brace for further price slide LONDON, July 24 (Reuters) – Physical prompt coal prices were little changed on Tuesday, supported by oil’s rise towards $104, but were set to come under renewed downward pressure in coming weeks because of another wave of Chinese […]<\/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-12721","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\/12721","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=12721"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12721\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}