Tuesday, 24 Jan 2012
Prompt European physical coal prices dipped by around 50 cents on Monday as the absence of Chinese players due to the New Year holiday began to be felt.
TRADES
A March South African cargo traded at USD 105.75
PRICES
A February South African cargo was bid at USD 106.00, up 50 cents
A March South African cargo was bid at USD 105.50 and offered at USD 107.00
A March DES ARA cargo was offered at USD 105.25, down around 50 cents
An April DES ARA cargo was bid at USD 100.00 and offered at USD 105.75, also slightly weaker
Minimal European demand and a hiatus in Chinese buying should be strong enough factors to pull DES ARA European prices below the support level of USD 100 a tonne during the next two weeks, from USD 105 currently.
(Sourced from Reuters)
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