{"id":8419,"date":"2012-02-29T02:41:30","date_gmt":"2012-02-29T00:41:30","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/euro-coal-prices-drop-1t-on-oil-oversupply\/"},"modified":"2012-02-29T02:41:30","modified_gmt":"2012-02-29T00:41:30","slug":"euro-coal-prices-drop-1t-on-oil-oversupply","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-prices-drop-1t-on-oil-oversupply\/","title":{"rendered":"Euro Coal-Prices drop $1\/T on oil, oversupply"},"content":{"rendered":"

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

* U.S. coal sold to India at $101-110\/T CIF<\/span><\/p>\n

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

* Prompt S.African keeps premium but prices dip<\/p>\n

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

LONDON<\/span> Feb 28 (Reuters) – Prompt physical coal prices
\nfell by around $1.00 a tonne on Tuesday in line with an earlier
\ndip in oil and pressured by oversupply, particularly in Europe.<\/p>\n

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

Front month March loading South African coal was bid at
\n$104.00 a tonne FOB Richards Bay, keeping a slim premium over
\nApril and May cargoes but $1.00 lower than the previous day.<\/p>\n

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

Brent crude futures slipped towards $123 a barrel as
\ninvestors worried about high prices hitting demand.<\/p>\n

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

But the overhang of unwanted coal cargoes of every origin is
\nalso weighing on prices and will continue to do so until Asian
\ndemand revives.<\/p>\n

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

“You can easily find all sorts of coal, every origin is
\navailable and U.S. material is being offered by traders, utility
\ntraders and producers directly – there’s still too much coal,” a
\nsource at a major European utility said.<\/p>\n

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

U.S. thermal coal with a sulphur content of anywhere from 1
\npercent to 4 percent is still flowing to Europe but sellers are
\nalso having to look at new markets in India and Turkey
\n.<\/p>\n

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

Indian traders said they have been offered and bought U.S.
\ncoal with around 3 percent sulphur at $101-110 a tonne CIF
\nIndia, which nets back to $60-65\/T FOB – a level below most
\nproducers’ cash costs.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

* U.S. coal sold to India at $101-110\/T CIF * Prompt S.African keeps premium but prices dip LONDON Feb 28 (Reuters) – Prompt physical coal prices fell by around $1.00 a tonne on Tuesday in line with an earlier dip in oil and pressured by oversupply, particularly in Europe. Front month 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-8419","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\/8419","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=8419"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8419\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}