{"id":15843,"date":"2012-10-24T20:03:13","date_gmt":"2012-10-24T18:03:13","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/update-1-s-africa-coal-prices-hit-fresh-lows-77t-trades\/"},"modified":"2012-10-24T20:03:13","modified_gmt":"2012-10-24T18:03:13","slug":"update-1-s-africa-coal-prices-hit-fresh-lows-77t-trades","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-s-africa-coal-prices-hit-fresh-lows-77t-trades\/","title":{"rendered":"UPDATE 1-S.Africa coal prices hit fresh lows, $77\/T trades"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Adds detail, quotes, graphic)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>By Jacqueline Cowhig<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON<\/span> Oct 24 (Reuters) &#8211; South African prompt physical<br \/>\ncoal prices fell by $2.60 a tonne to the lowest since late<br \/>\nDecember 2009 on Wednesday, extending a month-long decline, with<br \/>\na trade at $77.00 for a November cargo, traders said.<\/p>\n<p><span><\/span><\/p>\n<p>After the $77 trade, another November cargo was bid at $77<br \/>\nand offered at $78.50 a tonne FOB.<\/p>\n<p><span><\/span><\/p>\n<p>Oil fell by more than $1 a barrel on Wednesday after U.S.<br \/>\ncrude inventories rose by 5.9 million barrels last week, more<br \/>\nthan analyst expectations, a factor which helped drag coal lower<br \/>\n.<\/p>\n<p><span><\/span><\/p>\n<p>But sluggish demand and continued physical oversupply were<br \/>\nthe main reason&#8217;s behind coal&#8217;s fall to fresh lows, traders and<br \/>\nutilities said.<\/p>\n<p><span><\/span><\/p>\n<p>Tepid spot demand in India and China, two of the biggest<br \/>\nbuyers of South African material on a spot basis, and abundant<br \/>\navailability of cheaper coal from other countries have weighed<br \/>\non prices during the past month.<\/p>\n<p><span><\/span><\/p>\n<p>Prices have fallen from over $100 a tonne FOB Richards Bay<br \/>\nin Q2 and have further to fall unless demand revives.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There is still a lot of Q4 South African in traders&#8217; hands<br \/>\nand it just doesn&#8217;t price in competitively in most markets,&#8221; one<br \/>\ntrader said.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Adds detail, quotes, graphic) By Jacqueline Cowhig LONDON Oct 24 (Reuters) &#8211; South African prompt physical coal prices fell by $2.60 a tonne to the lowest since late December 2009 on Wednesday, extending a month-long decline, with a trade at $77.00 for a November cargo, traders said. After the $77 trade, another November cargo was [&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-15843","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\/15843","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=15843"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15843\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}