{"id":14765,"date":"2012-09-19T04:37:43","date_gmt":"2012-09-19T02:37:43","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/euro-coal-prices-stable-bid-offer-spreads-wide-apart\/"},"modified":"2012-09-19T04:37:43","modified_gmt":"2012-09-19T02:37:43","slug":"euro-coal-prices-stable-bid-offer-spreads-wide-apart","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-prices-stable-bid-offer-spreads-wide-apart\/","title":{"rendered":"Euro Coal-Prices stable, bid-offer spreads wide apart"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Alpha cuts 9 pct of workforce due to U.S. demand slump<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Oil slides below $114 a barrel<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, Sept 18<\/span> (Reuters) &#8211; Bids and offers for prompt coal<br \/>\ncargoes were several dollars apart on Tuesday at around $83-$88<br \/>\na tonne for South African material, although prices were little<br \/>\nchanged and no fresh trades were reported.<\/p>\n<p><span><\/span><\/p>\n<p>Oil slid to under $114 a barrel, extending the losses in the<br \/>\nprevious trading session, and weighed on coal values.<\/p>\n<p><span><\/span><\/p>\n<p>Expectations that QE3 would help boost sagging coal prices<br \/>\nover the coming months briefly gave prices support last week.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The weakness in the dollar-denominated coal financial<br \/>\ncontracts were stark given the reaction to QE3 of both the oil<br \/>\ncontract and the weakening dollar index,&#8221; Barclays Capital said<br \/>\nin a research note on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>The market globally remains oversupplied and this will take<br \/>\nmonths to rebalance as production cuts start to be felt in<br \/>\nhigh-cost miners such as the U.S., Russia and Australia,<br \/>\nutilities and traders said.<\/p>\n<p><span><\/span><\/p>\n<p>U.S. coal miner Alpha Natural Resources Inc is<br \/>\ncutting 1,200 jobs or 9 percent of its workforce, as increased<br \/>\nuse of natural gas eats into domestic coal demand.<\/p>\n<p><span><\/span><\/p>\n<p>U.S. miners rushed to export thermal coal unwanted by the<br \/>\ndomestic market during 2011 but fresh sales have dried up<br \/>\nbecause they are not viable at such depressed European prices.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Alpha cuts 9 pct of workforce due to U.S. demand slump * Oil slides below $114 a barrel LONDON, Sept 18 (Reuters) &#8211; Bids and offers for prompt coal cargoes were several dollars apart on Tuesday at around $83-$88 a tonne for South African material, although prices were little changed and no fresh trades [&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-14765","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\/14765","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=14765"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14765\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}