{"id":15255,"date":"2012-10-05T05:31:57","date_gmt":"2012-10-05T03:31:57","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/euro-coal-prices-rise-by-1t-oversupply-fears-ease\/"},"modified":"2012-10-05T05:31:57","modified_gmt":"2012-10-05T03:31:57","slug":"euro-coal-prices-rise-by-1t-oversupply-fears-ease","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-prices-rise-by-1t-oversupply-fears-ease\/","title":{"rendered":"Euro Coal-Prices rise by $1\/T; oversupply fears ease"},"content":{"rendered":"

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

* More players optimistic prices are starting to recover<\/span><\/p>\n

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

* Late Oct S.African cargo trades at $1.50\/T premium<\/p>\n

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

LONDON<\/span> Oct 4 (Reuters) – Prompt physical coal prices rose
\nby as much as $1.00 a tonne on Thursday as traders bought to
\ncover short positions and on optimism that prices are starting
\nto recover from steep falls in the summer.<\/p>\n

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

Prompt South African coal cargo prices dropped to a two-year
\nlow of $81.65 a tonne in June due to oversupply and a withdrawal
\nby many buyers to the market’s sidelines while they waited for
\nprices to lower further.<\/p>\n

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

Oversupply, particularly record U.S. thermal coal exports
\nwhich could be as much as 50 million tonnes this year, has
\nweighed on prices since Q4 2011 but the glut has been reduced as
\nproducers have cut output.<\/p>\n

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

High inventories in Europe, China and India still need to be
\ndigested before restocking begins on a large-enough scale to
\npush prices closer to $100\/T, where they were at the start of
\nthe year, but some buying from leading importers is starting to
\nemerge.<\/p>\n

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

Coal benchmark prices cover a 90-day window which reflects
\nthe contango seen in the market all year (in a contango market,
\nforward months show higher prices than nearby) with an often
\nmarked price difference between the first and third month.<\/p>\n

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

The contango alone, now that December cargoes are included
\nin price assessments, has helped nudge prices closer to $90 from
\nthe low $80s, traders and end-users said.<\/p>\n

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

A second-half October loading South African cargo traded on
\nThursday at $85.75 a tonne FOB Richards Bay – $1.00 higher than
\nWednesday’s last trade and showing a premium of $1.50 a tonne
\nabove November prices.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

* More players optimistic prices are starting to recover * Late Oct S.African cargo trades at $1.50\/T premium LONDON Oct 4 (Reuters) – Prompt physical coal prices rose by as much as $1.00 a tonne on Thursday as traders bought to cover short positions and on optimism that prices are starting to recover from steep […]<\/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-15255","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\/15255","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=15255"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15255\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}