{"id":13880,"date":"2012-08-25T03:10:48","date_gmt":"2012-08-25T01:10:48","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/euro-coal-prices-subdued-as-atlantic-supplies-improve\/"},"modified":"2012-08-25T03:10:48","modified_gmt":"2012-08-25T01:10:48","slug":"euro-coal-prices-subdued-as-atlantic-supplies-improve","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-prices-subdued-as-atlantic-supplies-improve\/","title":{"rendered":"Euro Coal-prices subdued as Atlantic supplies improve"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Richards Bay September bid at $83.75\/mt<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Atlantic oversupply to remain in place until 2017<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON<\/span> Aug 24 (Reuters) &#8211; Physical prompt coal prices saw<br \/>\nlittle movement in Europe on Friday, ahead of a long weekend in<br \/>\nBritain, and the market remained subdued as a result of rising<br \/>\nColombian output and weak demand from the region&#8217;s sluggish<br \/>\neconomy.<\/p>\n<p><span><\/span><\/p>\n<p>Traders said production in Colombia, where a rail strike led<br \/>\nto a supply squeeze in earlier in August, was continuing to rise<br \/>\nand was expected to reach normal output again by the end of next<br \/>\nweek, resulting the seaborne Atlantic coal market returning into<br \/>\nsurplus.<\/p>\n<p><span><\/span><\/p>\n<p>Analysts said that the supply surplus was expected to<br \/>\npersist in coming years.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We see very few adjustments supporting a more positive<br \/>\nprice outlook over the 2013-2017 period, over which we model an<br \/>\nincreasing surplus,&#8221; Deutsche Bank said in a research note on<br \/>\nFriday.<\/p>\n<p><span><\/span><\/p>\n<p>The downward price pressure this surplus has created is<br \/>\nbeing emphasised by weakening Chinese demand.<\/p>\n<p><span><\/span><\/p>\n<p>Australian thermal coal prices fell toward $91 a tonne this<br \/>\nweek on sluggish sales as buyers from China, the world&#8217;s top<br \/>\nconsumer, remained on the sidelines while slowly digesting<br \/>\nstocks at home, trade sources said.<\/p>\n<p><span><\/span><\/p>\n<p>Despite the downward momentum, traders said European coal<br \/>\nprices would bottom out soon as further price drops would knock<br \/>\nout 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>No trades were heard on Friday but South African Richards<br \/>\nBay cargoes for delivery in September were bid at $83.75 per<br \/>\ntonne on the GLOBALcoal trading platform. November shipments<br \/>\nwere bid at $87 a tonne.<\/p>\n<p> (Reporting by Henning Gloystein; Editing by Anthony Barker)<\/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>* Richards Bay September bid at $83.75\/mt * Atlantic oversupply to remain in place until 2017 LONDON Aug 24 (Reuters) &#8211; Physical prompt coal prices saw little movement in Europe on Friday, ahead of a long weekend in Britain, and the market remained subdued as a result of rising Colombian output and weak demand from [&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-13880","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\/13880","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=13880"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13880\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}