{"id":14468,"date":"2012-09-11T04:08:07","date_gmt":"2012-09-11T02:08:07","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/euro-coal-drops-1-1-50-with-weaker-gas\/"},"modified":"2012-09-11T04:08:07","modified_gmt":"2012-09-11T02:08:07","slug":"euro-coal-drops-1-1-50-with-weaker-gas","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-drops-1-1-50-with-weaker-gas\/","title":{"rendered":"Euro Coal-Drops $1-$1.50 with weaker gas"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Nov DES ARA trades at $91, $91.50, $92.00<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* BHP Billiton, Xstrata, cut Australia coal jobs<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, Sept 10<\/span> (Reuters) &#8211; Physical coal prices fell by<br \/>\n$1.00-$1.50 a tonne on Tuesday in line with weaker UK gas,<br \/>\ndespite a rise in oil on expectations that the U.S. Federal<br \/>\nReserve will act to stimulate the economy.<\/p>\n<p><span><\/span><\/p>\n<p>Coal tends to lag moves in the oil market but the dearth of<br \/>\nspot buying interest in Asia and Europe has started to erode<br \/>\nconfidence that prices had hit the bottom of the market.<\/p>\n<p><span><\/span><\/p>\n<p>Traders struggled to place spot cargoes and were even more<br \/>\nreluctant to buy in a market which could be vulnerable to<br \/>\nfurther falls.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Prices dropped by $1.00 but there&#8217;s very little activity,&#8221;<br \/>\none European trader said.<\/p>\n<p><span><\/span><\/p>\n<p>Three Q4 delivery DES ARA cargoes traded at $91.00, $91.50<br \/>\nand $92.00 on Tuesday, down $1.00-$1.50 from Monday&#8217;s levels.<\/p>\n<p><span><\/span><\/p>\n<p>Prices will come under renewed pressure unless some buying<br \/>\npicks up soon from India and China at the same time as the<br \/>\nlatest production cuts start to be felt, suppliers said.<\/p>\n<p><span><\/span><\/p>\n<p>On Monday BHP Billiton and Xstrata announced<br \/>\njob cuts at mines in Australia, due to squeezed margins<br \/>\n from weak coal prices, high costs and the strong<br \/>\nAustralian dollar.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Nov DES ARA trades at $91, $91.50, $92.00 * BHP Billiton, Xstrata, cut Australia coal jobs LONDON, Sept 10 (Reuters) &#8211; Physical coal prices fell by $1.00-$1.50 a tonne on Tuesday in line with weaker UK gas, despite a rise in oil on expectations that the U.S. Federal Reserve will act to stimulate the [&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-14468","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\/14468","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=14468"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14468\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}