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\t\t<\/span><\/p>\n <\/span><\/p>\n \n \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":" PERTH, Sept 14 (Reuters) – Australia’s thermal coal price benchmark fell to just over $91 per tonne in the last week as ample supplies and continued weak demand from China and other buyers weighed on prices. Australia’s Newcastle spot index for the week closed at $91.01 per tonne on Thursday, down 72 cents from the […]<\/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-14633","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\/14633","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=14633"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14633\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}PERTH, Sept 14 (Reuters) - Australia's thermal coal price\nbenchmark fell to just over $91 per tonne in the last week as\nample supplies and continued weak demand from China and other\nbuyers weighed on prices.\n Australia's Newcastle spot index for the week\nclosed at $91.01 per tonne on Thursday, down 72 cents from the\nsame time last week, according to data provided by online\ntrading platform globalCOAL. \n \"There's just too much supply for the fourth quarter,\" a\nSingapore-based market source said. \n Four parcels of 25,000 tonnes of Newcastle coal for December\ndelivery traded this week at prices ranging between $91.40 per\ntonne on Friday and $93 per tonne earlier in the week. \n The Chinese weekly benchmark thermal coal prices on the\nBohai Bay Rim index rose slightly to 630 yuan ($99.53) a tonne\nFOB from 628 yuan last week.\n The supply overhang is expected to continue unless there is\na significant pick-up in global economic growth. \n \"We still expect the increase in global thermal coal export\ncapacity in 2012\/13 to slightly outpace demand growth, causing\nthe market to remain in a state of slack,\" Paolo Coghe, an\nanalyst with Societe Generale in Paris told clients in a note\nthis week. \n Although Chinese buying interest in standard-grade\nAustralian coal with a heating value of 6,000 kg\/kcal remained\nweak, Chinese demand for lower-grade coal with a heating value\nof 5,500 kg\/kcal was heating up slightly, the market source\nsaid. \n Some term buying via tenders continued from South Korea. \n Korean Southern Power Co Ltd (KOSPO) is seeking 65,000\ntonnes of steaming coal for November 1-30 delivery via a tender,\nwhile Korea East West Power Co (EWP) has bought 1.56 million\ntonnes of steaming coal per year for 2012-2017 via term\ntenders. \n News of further production and job cuts by Australian coal\nproducers also added bearish sentiment to the thermal coal\nmarket, market sources said. \n The world's biggest miner, BHP Billiton, announced\nearly this week that it would stop production at its Gregory\ncoking coal mine in Queensland. \n Xstrata, the world's largest producer of seaborne\nthermal coal, said in a statement this week that a significant\nportion of the Australian thermal and coking coal industry is\nlosing money at current prices. \n Although coking coal, used for steelmaking, and thermal\ncoal, which is used for power generation, are largely separate\nmarkets, low-grade coking coal and high-grade thermal coal are\nsometimes substituted for each other and supply and demand\nimpacts can flow from one market to the other. \n($1 = 6.3296 Chinese yuan)\n\n (Reporting by Rebekah Kebede)\n (rebekah.kebede@thomsonreuters.com; Mobile: +61 402 974 273\nReuters Messaging:\nrebekah.kebede.thomsonreuters.com@reuters.net)<\/pre>\n