{"id":7784,"date":"2012-02-09T01:49:00","date_gmt":"2012-02-08T23:49:00","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/euro-coal-supply-drags-prices-down-despite-freeze\/"},"modified":"2012-02-09T01:49:00","modified_gmt":"2012-02-08T23:49:00","slug":"euro-coal-supply-drags-prices-down-despite-freeze","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-supply-drags-prices-down-despite-freeze\/","title":{"rendered":"Euro Coal-Supply drags prices down despite freeze"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* March ARA U.S. cargo trades at $98\/T<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Freeze tests gas, power networks to limit<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON<\/span> Feb 8 (Reuters) &#8211; Blizzards and ice-laden<br \/>\npower lines pushed gas and electricity networks close to<br \/>\nbreaking point on Wednesday but fundamental coal oversupply<br \/>\ndrove coal prices lower.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The cold weather is not having any impact on coal because<br \/>\nthere&#8217;s too much of it everywhere and a lot of U.S. coal being<br \/>\noffered which has to be heavily discounted,&#8221; one European trader<br \/>\nsaid.<\/p>\n<p><span><\/span><\/p>\n<p>U.S. coal producer Arch, a new player on screen<br \/>\ntrading platform globalCOAL, on Wednesday sold a March delivery<br \/>\ncargo at $98.00 a tonne &#8211; $4.00 below equivalent API2 swaps &#8211; a<br \/>\nbearish signal, traders said.<\/p>\n<p><span><\/span><\/p>\n<p>A February delivery DES ARA cargo was bid at $92.00, down<br \/>\nsteeply from Tuesday&#8217;s last trade at $97.50.<\/p>\n<p><span><\/span><\/p>\n<p>South African FOB Richards Bay prices have also weakened<br \/>\nreflecting a loosening in the tight supply seen throughout<br \/>\nJanuary, they said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Coal prices in Europe could well remain under pressure<br \/>\ngiven the macroeconomic risks stemming from the ongoing<br \/>\nsovereign debt issues,&#8221; Barclays Capital said in a research<br \/>\nnote. &#8220;Although deeply cold early February temperatures should<br \/>\nstart to deplete inventories and lead to some restocking.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Chinese spot buying has yet to take off now that the Lunar<br \/>\nNew Year holidays are over, and probably will not for another<br \/>\ntwo or three weeks at least, producers and traders supplying the<br \/>\nChinese market said.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* March ARA U.S. cargo trades at $98\/T * Freeze tests gas, power networks to limit LONDON Feb 8 (Reuters) &#8211; Blizzards and ice-laden power lines pushed gas and electricity networks close to breaking point on Wednesday but fundamental coal oversupply drove coal prices lower. &#8220;The cold weather is not having any impact on coal [&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-7784","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\/7784","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=7784"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7784\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}