{"id":14230,"date":"2012-09-04T03:39:30","date_gmt":"2012-09-04T01:39:30","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/euro-coal-prices-steady-report-shows-coals-dominance-over-gas\/"},"modified":"2012-09-04T03:39:30","modified_gmt":"2012-09-04T01:39:30","slug":"euro-coal-prices-steady-report-shows-coals-dominance-over-gas","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-prices-steady-report-shows-coals-dominance-over-gas\/","title":{"rendered":"Euro Coal-Prices steady, report shows coal’s dominance over gas"},"content":{"rendered":"

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

LONDON, Sept 3<\/span> (Reuters) – Physical coal prices in Europe
\nwere steady to slightly higher on Monday, along with crude oil
\nprices, while a report by Bank of America Merrill Lynch
\nunderlined coal’s dominant position over natural gas as a
\nfeedstock for power generation.<\/span><\/p>\n

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

“Coal is just hovering around the psychologically important
\n$100 a tonne level and will continue to do that for the rest of
\nthe year,” one analyst at a small trading house said.<\/p>\n

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

He added that firm trading sentiment on crude oil markets
\nwas helping to support coal prices. Brent futures were steady to
\nslightly higher as investors focused on the possibility of more
\nstimulus measures to revive economic growth.<\/p>\n

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

Oil prices often set the direction of gas prices, making it
\nless competitive against coal when crude rallies.<\/p>\n

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

Gas prices also rose across Europe’s main trading hubs due
\nto supply shortages in Britain, the region’s benchmark market,
\nwhich made gas less profitable to burn and helped increase
\ndemand for coal.<\/p>\n

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

Analysts at Bank of America Merrill Lynch said the amount of
\ngas used for power generation hit a five-year low in August as
\ngenerators switched to coal.<\/p>\n

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

“Power generators are shunning natural gas,” the analysts
\nsaid.<\/p>\n

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

“Therefore, most European generators have replaced more
\nexpensive natural gas with cheaper coal as the baseload
\nfeedstock of choice in 2012, continuing a trend of gas-to-coal
\nswitching that started to be evident last year,” they added.<\/p>\n

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

Coal prices were in decline for much of the first half of
\nthe year as weak demand clashed with rising exports from the
\nUnited States, where coal-fired electricity generation has
\nbecome unprofitable as a result of the shale gas boom.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

LONDON, Sept 3 (Reuters) – Physical coal prices in Europe were steady to slightly higher on Monday, along with crude oil prices, while a report by Bank of America Merrill Lynch underlined coal’s dominant position over natural gas as a feedstock for power generation. “Coal is just hovering around the psychologically important $100 a tonne […]<\/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-14230","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\/14230","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=14230"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14230\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}