{"id":13845,"date":"2012-08-24T03:08:39","date_gmt":"2012-08-24T01:08:39","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/euro-coal-prices-drop-on-improving-colombian-exports\/"},"modified":"2012-08-24T03:08:39","modified_gmt":"2012-08-24T01:08:39","slug":"euro-coal-prices-drop-on-improving-colombian-exports","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-prices-drop-on-improving-colombian-exports\/","title":{"rendered":"Euro Coal-prices drop on improving Colombian exports"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* October DES ARA cargo trades at $94\/mt<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Price floor seen around $90\/mt<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON<\/span> Aug 23 (Reuters) &#8211; Physical prompt coal prices<br \/>\ncontinued this week&#8217;s downward trend on Thursday as prospects<br \/>\nfor rising Colombian exports and weak European demand pulled<br \/>\ndown the market, traders said.<\/p>\n<p><span><\/span><\/p>\n<p>A Colombian rail strike led to a supply squeeze in the<br \/>\nAtlantic basin early in August, but analysts said the seaborne<br \/>\nAtlantic coal market would return to a surplus by the end of<br \/>\nAugust as Colombia ramps up exports.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The return of Colombian exports is colliding with ongoing<br \/>\nweakness in European demand, so prices are going down every day<br \/>\nas long as Colombian exports are going up,&#8221; one coal trader<br \/>\nsaid. &#8220;But this trend will stop soon, once Colombian exports are<br \/>\nback to normal at some point next week.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Traders also said European coal prices would bottom out soon<br \/>\nas further price drops would knock out some production.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Once we see DES ARA prompt prices approach $90 a tonne,<br \/>\nsome production will halt as they can&#8217;t send their coal to<br \/>\nEurope at a profit under that level, and once these supplies go<br \/>\noff, prices will lift,&#8221; one coal importer said.<\/p>\n<p><span><\/span><\/p>\n<p>A DES ARA cargo for delivery in October was traded at $94<br \/>\nper tonne on the GLOBALcoal trading platform. November was<br \/>\noffered at $94.25, down almost $3 a tonne from Wednesday.<\/p>\n<p><span><\/span><\/p>\n<p>South African Richards Bay cargoes for delivery in September<br \/>\nsaw a bid\/offer range of $79 to $86.75 a tonne, and October<br \/>\nshipments saw a bid\/offer spread of $85 to $88.50 per tonne, one<br \/>\ndollar less than the previous day.<\/p>\n<p><span><\/span><\/p>\n<p>November shipments were offered at $89.85 a tonne, with no<br \/>\nbids reported.<\/p>\n<p> (Reporting by Henning Gloystein; Editing by David Holmes)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* October DES ARA cargo trades at $94\/mt * Price floor seen around $90\/mt LONDON Aug 23 (Reuters) &#8211; Physical prompt coal prices continued this week&#8217;s downward trend on Thursday as prospects for rising Colombian exports and weak European demand pulled down the market, traders said. A Colombian rail strike led to a supply squeeze [&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-13845","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\/13845","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=13845"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13845\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}