{"id":7405,"date":"2012-01-26T21:12:53","date_gmt":"2012-01-26T19:12:53","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/euro-coal-dollar-fall-boosts-prompt-prices-swaps\/"},"modified":"2012-01-26T21:12:53","modified_gmt":"2012-01-26T19:12:53","slug":"euro-coal-dollar-fall-boosts-prompt-prices-swaps","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-dollar-fall-boosts-prompt-prices-swaps\/","title":{"rendered":"Euro Coal-Dollar fall boosts prompt prices, swaps"},"content":{"rendered":"

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

* Mar S.African trades sharply higher at $108.75<\/span><\/p>\n

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

* Swaps boosted by utility hedging, oil<\/p>\n

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

LONDON<\/span> Jan 26 (Reuters) – The U.S. dollar fell to its
\nlowest for almost two months on Thursday, giving a sharp boost
\nto coal prices which have sagged this month due to weak
\nfundamentals globally.<\/p>\n

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

Two March loading South African cargoes traded early in the
\nday at $108.50 and $108.75, up over $3.00 from Wednesday, bought
\nby banks and traders, sold by a large, international trading
\nhouse.<\/p>\n

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

Coal swaps rallied on Thursday, bolstered by European
\nutilities hedging dark spreads (the profit margin from using
\ncoal to generate power) and oil’s rise, despite the lack of
\nphysical buying and high stockpile levels.<\/p>\n

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

End-users in Europe and Asia remained noticeable for the
\nabsence from the market.<\/p>\n

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

Whether China resumes large-scale spot buying after the New
\nYear holidays is absolutely critical for coal price direction,
\nregardless of the gyrations of the swaps market, traders said.<\/p>\n

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

China overtook Japan as the world’s largest coal importer
\nlast year after a surge in imports in the last quarter
\n to a total of 182.4 million tonnes, nearly 11
\npercent up from the previous year, much of it bought on a spot
\nbasis.<\/p>\n

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

“Show me anyone who wants to actually take delivery of this
\ncoal at these prices rather than cover a short position or as
\npart of an API4 and Newcastle swaps play,” one major European
\ntrader said.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

* Mar S.African trades sharply higher at $108.75 * Swaps boosted by utility hedging, oil LONDON Jan 26 (Reuters) – The U.S. dollar fell to its lowest for almost two months on Thursday, giving a sharp boost to coal prices which have sagged this month due to weak fundamentals globally. Two March loading South African […]<\/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-7405","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\/7405","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=7405"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7405\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}