{"id":9635,"date":"2012-04-04T15:51:14","date_gmt":"2012-04-04T13:51:14","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/boaml-lowers-its-2012-thermal-coal-price-forecast\/"},"modified":"2012-04-04T15:51:14","modified_gmt":"2012-04-04T13:51:14","slug":"boaml-lowers-its-2012-thermal-coal-price-forecast","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/boaml-lowers-its-2012-thermal-coal-price-forecast\/","title":{"rendered":"BoAML lowers its 2012 thermal coal price forecast"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Newcastle 2H2012 price forecast down $13 to $107\/mt<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* But 2013 forecast remains unchanged at $110 a tonne<\/p>\n<p><span><\/span><\/p>\n<p>* India to overtake China as top thermal coal importer<\/p>\n<p><span><\/span><\/p>\n<p>By Henning Gloystein<\/p>\n<p><span><\/span><\/p>\n<p>LONDON, April 4 (Reuters) &#8211; Bank of America Merrill Lynch<br \/>\n(BoAML) has lowered its 2012 thermal coal price forecast as an<br \/>\noversupply in global markets is not expected to improve in the<br \/>\nnear future, the bank said on Wednesday.<\/p>\n<p><span><\/span><\/p>\n<p>But with coal production costs rising in key markets such as<br \/>\nthe United States and China, the bank said that it was keeping<br \/>\nits 2013 price outlook unchanged.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The oversupply in the global coal markets will not improve<br \/>\nquickly &#8230; (and) in the absence of any big supply disruptions,<br \/>\nwe see some downside risk to thermal coal prices in the next<br \/>\nmonths,&#8221; BoAML said in a research note.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Thus, we are reducing our forecasts for Australian<br \/>\nNewcastle coal prices in 2H12 to $107 per tonne, from $120<br \/>\nprior, acknowledging better supply and weaker demand<br \/>\nconditions.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Physical coal trading has been thin during the past months<br \/>\nas thermal coal markets are suffering from significant<br \/>\noversupply as a result of healthy Colombian, U.S., South African<br \/>\nand Russian exports, while demand has been weak.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Newcastle 2H2012 price forecast down $13 to $107\/mt * But 2013 forecast remains unchanged at $110 a tonne * India to overtake China as top thermal coal importer By Henning Gloystein LONDON, April 4 (Reuters) &#8211; Bank of America Merrill Lynch (BoAML) has lowered its 2012 thermal coal price forecast as an oversupply in [&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-9635","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\/9635","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=9635"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9635\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}