Thursday, 15 Sep 2011
Reuters reported that prompt physical coal prices fell by another USD 1.00 a tonne on Wednesday having dropped steadily for the past few days on weak demand in Europe and Asia.
European DES ARA prices have held steady in a narrow range for most of this year, between around USD 125 to USD 130 dollars, because frequent buying by one utility has been enough to prop up prices.
However, the number of October to December DES cargoes offered has been rising and bids from a handful of buyers have been dropping, pushing DES prices out of the range.
A November DES ARA cargo traded at USD 121.50 on Wednesday down around USD 1.00 from the previous day. December cargoes were offered at a similar level.
One European trader said "There have been more sellers today, it's been fairly active and it's looking weaker every day."
South African FOB prices have also been dropping steadily for the past several days. There has been limited spot buying by Chinese and Indian traders but not enough to support prices.
(sourced from Reuters)
Reuters reported that prompt physical coal prices fell by another USD 1.00 a tonne on Wednesday having dropped steadily for the past few days on weak demand in Europe and Asia.
European DES ARA prices have held steady in a narrow range for most of this year, between around USD 125 to USD 130 dollars, because frequent buying by one utility has been enough to prop up prices.
However, the number of October to December DES cargoes offered has been rising and bids from a handful of buyers have been dropping, pushing DES prices out of the range.
A November DES ARA cargo traded at USD 121.50 on Wednesday down around USD 1.00 from the previous day. December cargoes were offered at a similar level.
One European trader said "There have been more sellers today, it's been fairly active and it's looking weaker every day."
South African FOB prices have also been dropping steadily for the past several days. There has been limited spot buying by Chinese and Indian traders but not enough to support prices.
(sourced from Reuters)
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