{"id":7026,"date":"2012-01-13T20:41:02","date_gmt":"2012-01-13T18:41:02","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/euro-coal-prices-slide-after-sp-downgrade-hits-euro\/"},"modified":"2012-01-13T20:41:02","modified_gmt":"2012-01-13T18:41:02","slug":"euro-coal-prices-slide-after-sp-downgrade-hits-euro","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-prices-slide-after-sp-downgrade-hits-euro\/","title":{"rendered":"Euro Coal-Prices slide after S&amp;P downgrade hits euro"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Mar DES ARA trades at $104.50<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Feb ARA bid at $100.00<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON<\/span> Jan 13 (Reuters) &#8211; Prompt physical coal prices<br \/>\ndropped by around $2.00 a tonne on Friday after reports that<br \/>\ncredit rating agency Standard  Poors is set to downgrade<br \/>\nseveral euro zone countries.<\/p>\n<p><span><\/span><\/p>\n<p>A March delivery DES ARA cargo traded between two utilities<br \/>\nat $104.50 a tonne early on Friday, down $2.00 from the previous<br \/>\nday&#8217;s last traded level.<\/p>\n<p><span><\/span><\/p>\n<p>Prices for FOB Richards Bay and ARA cargoes have slipped to<br \/>\njust above the $100 mark, a key level of psychological support<br \/>\nfor these markets, one which many analysts do not expect to be<br \/>\nbroken.<\/p>\n<p><span><\/span><\/p>\n<p>Australian prices FOB Newcastle have been slightly more<br \/>\nrobust but a drop to $103 would leave smaller producers<br \/>\nstruggling to make a profit, traders said.<\/p>\n<p><span><\/span><\/p>\n<p>The warm European winter has left utilities with more coal<br \/>\non stockpiles and more due to be delivered than they need<\/p>\n<p><span><\/span><\/p>\n<p>The euro fell to and remained in sight of Wednesday&#8217;s<br \/>\n16-month low following the report on the possible SP downgrade,<br \/>\nwhich quoted a senior euro zone government source.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The entire coal market&#8217;s coming off, API2 swaps were<br \/>\nsmashed today after the (reports of a possible) SP downgrade<br \/>\ncame out,&#8221; one European trader said.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Mar DES ARA trades at $104.50 * Feb ARA bid at $100.00 LONDON Jan 13 (Reuters) &#8211; Prompt physical coal prices dropped by around $2.00 a tonne on Friday after reports that credit rating agency Standard Poors is set to downgrade several euro zone countries. A March delivery DES ARA cargo traded between two [&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-7026","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\/7026","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=7026"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7026\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}