{"id":8155,"date":"2012-02-21T02:18:22","date_gmt":"2012-02-21T00:18:22","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/euro-coal-s-african-prices-rise-on-short-covering\/"},"modified":"2012-02-21T02:18:22","modified_gmt":"2012-02-21T00:18:22","slug":"euro-coal-s-african-prices-rise-on-short-covering","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-s-african-prices-rise-on-short-covering\/","title":{"rendered":"Euro Coal-S.African prices rise on short-covering"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Mar S.African tightness seen temporary<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Little sign of fresh Indian buying<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON<\/span> Feb 20 (Reuters) &#8211; Prompt South African<br \/>\nphysical coal prices rose by around 50 cents on Monday as market<br \/>\nparticipants tried to cover short positions taken at the end of<br \/>\nlast year amid tight supply for March in particular, traders<br \/>\nsaid.<\/p>\n<p><span><\/span><\/p>\n<p>Front-month South African coal prices FOB Richards Bay have<br \/>\nheld a premium over subsequent months since January for the same<br \/>\nreason and despite weak demand in Europe and Asia.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;This is a temporary imbalance and not a good barometer of<br \/>\nthe market, it&#8217;s just the front month and is a short-term<br \/>\nsqueeze,&#8221; one European trader said.<\/p>\n<p><span><\/span><\/p>\n<p>Players among banks, traders and utilities late last year<br \/>\nsold coal swaps and physical in anticipation of being able to<br \/>\nbuy back at cheaper prices.<\/p>\n<p><span><\/span><\/p>\n<p>Although coal values have been dropping while China has<br \/>\nremained out of the spot market, there is still some<br \/>\nshort-covering, which needs to be done and sellers are reluctant<br \/>\nto offer while there&#8217;s a chance Richards Bay prices will keep<br \/>\nticking higher.<\/p>\n<p><span><\/span><\/p>\n<p>Some Indian enquiries for prompt South African coal were<br \/>\nseen but no fresh trades &#8211; Indian buyers said they are keeping<br \/>\ntabs on prices and waiting for a drop closer to or below $100.<\/p>\n<p><span><\/span><\/p>\n<p>The European DES ARA market is probably a better indicator<br \/>\nof the market&#8217;s strength, traders 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 S.African tightness seen temporary * Little sign of fresh Indian buying LONDON Feb 20 (Reuters) &#8211; Prompt South African physical coal prices rose by around 50 cents on Monday as market participants tried to cover short positions taken at the end of last year amid tight supply for March in particular, traders said. [&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-8155","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\/8155","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=8155"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8155\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}