{"id":15212,"date":"2012-10-04T05:28:05","date_gmt":"2012-10-04T03:28:05","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/asia-coal-australia-coal-flat-as-chinese-buyers-on-holiday\/"},"modified":"2012-10-04T05:28:05","modified_gmt":"2012-10-04T03:28:05","slug":"asia-coal-australia-coal-flat-as-chinese-buyers-on-holiday","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/asia-coal-australia-coal-flat-as-chinese-buyers-on-holiday\/","title":{"rendered":"Asia Coal-Australia coal flat as Chinese buyers on holiday"},"content":{"rendered":"

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

PERTH<\/span> Oct 4 (Reuters) – Australia’s thermal coal price
\nbenchmark was relatively steady this week with Chinese buyers
\naway from the market for a week-long national holiday, but
\nprices may rebound soon as buyers begin to restock for winter.<\/span><\/p>\n

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

Australia’s Newcastle spot index for the week
\nclosed at $85.85 per tonne on Wednesday, up only slightly from
\n$85.49 per tonne last week, according to data provided by online
\ntrading platform globalCOAL.<\/p>\n

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

“We’re in ‘shoulder season’ right now; but pre-winter
\nrestocking across northern hemisphere in November and December
\nmeans we’re probably close-to-a-low for these prices,” UBS said
\nin a note to clients this week.<\/p>\n

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

The autumn season is often referred to as the “shoulder
\nseason” by those in the industry because it is in between the
\npeak demand summer and winter seasons.<\/p>\n

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

Xstrata Plc and Tohoku Electric Power Co’s
\nsettlement of a coal supply contract for the year beginning Oct.
\n1 at just under $97 per tonne late last week, over $10 per tonne
\nmore than the benchmark at the time, suggests that prices will
\nincrease going forward, market sources and analysts said.<\/p>\n

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

“Looking ahead, with thermal coal demand heading into
\nseasonal highs in (the fourth quarter), we expect physical
\nprices to pick up gradually,” Standard Chartered said in a note
\nto clients this week, citing a recent increase in buying
\nenquiries from Chinese and Indian buyers.<\/p>\n

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

Despite the absence of Chinese buyers due to the Golden Week
\nholiday, a few cargoes of Newcastle coal changed hands.<\/p>\n

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

A 25,000 tonne cargo for November delivery traded at $82.50
\nper tonne, the same price paid for an October cargo of the same
\nsize late last week, according to globalCOAL.<\/p>\n

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

Offers for November cargoes later fell to $81.75 per tonne,
\nthe lowest level seen since December 2009.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

PERTH Oct 4 (Reuters) – Australia’s thermal coal price benchmark was relatively steady this week with Chinese buyers away from the market for a week-long national holiday, but prices may rebound soon as buyers begin to restock for winter. Australia’s Newcastle spot index for the week closed at $85.85 per tonne on Wednesday, up only […]<\/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-15212","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\/15212","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=15212"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15212\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}