{"id":8452,"date":"2012-03-01T02:45:06","date_gmt":"2012-03-01T00:45:06","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/euro-coal-prompt-prices-drop-1t-on-gas-oversupply\/"},"modified":"2012-03-01T02:45:06","modified_gmt":"2012-03-01T00:45:06","slug":"euro-coal-prompt-prices-drop-1t-on-gas-oversupply","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-prompt-prices-drop-1t-on-gas-oversupply\/","title":{"rendered":"Euro Coal-Prompt prices drop $1\/T on gas, oversupply"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* March S.African trades at $96\/T<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* May DES ARA trades at $98\/T<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON<\/span> Feb 29 (Reuters) &#8211; Prompt physical coal prices<br \/>\nfell for the second day running by $1.00 a tonne, pressured by<br \/>\noversupply and weak gas prices.<\/p>\n<p><span><\/span><\/p>\n<p>The same factors have been pushing prices lower, gradually,<br \/>\nfor the past three months, utilities and traders said.<\/p>\n<p><span><\/span><\/p>\n<p>The flow of U.S. coal into Europe, the impact of the warmest<br \/>\nEuropean winter for 30 years, weak gas prices and key Asian<br \/>\nbuyers such as China largely staying out of the spot market,<br \/>\nhave combined to tip the market into oversupply, they said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;A March DES ARA cargo traded at $96 and a May at $98, both<br \/>\ndown by $1.00, the front months are looking weak,&#8221; one utility<br \/>\nsource said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Oversupply in ARA is bleeding through to prompt prices but<br \/>\nRichards Bay is surprisingly steady given that South African<br \/>\ndoesn&#8217;t price in competitively anywhere,&#8221; one trader said.<\/p>\n<p><span><\/span><\/p>\n<p>U.S. coal with a high-sulphur content of over 3 percent is<br \/>\ncurrently being offered at a $20 a tonne discount to API2,<br \/>\nequating to around $79 a tonne DES ARA, traders said.<\/p>\n<p><span><\/span><\/p>\n<p>If more European end-users could use or blend this coal they<br \/>\nwould, but their stockpiles are close to full. Instead, Indian<br \/>\ntraders are looking to bring in this coal as an alternative to<br \/>\nSouth African for the cement sector.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* March S.African trades at $96\/T * May DES ARA trades at $98\/T LONDON Feb 29 (Reuters) &#8211; Prompt physical coal prices fell for the second day running by $1.00 a tonne, pressured by oversupply and weak gas prices. The same factors have been pushing prices lower, gradually, for the past three months, utilities and [&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-8452","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\/8452","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=8452"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8452\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}