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Tuesday, February 28, 2012

Steam coal prices dip by 50 with weaker oil prices

Tuesday, 28 Feb 2012

Reuters reported that prompt physical coal prices fell a marginal 50 US cents a tonne on Monday in line with weaker oil.

An April South African cargo traded at USD 105.25, down 75 cents.

A March DES ARA Russian Panamax traded at USD 98.85, little changed

An April South African cargo was bid at USD 105.25 and offered at USD 107.00, little changed
A March DES ARA cargo was bid at USD 95 and offered at USD 99, down around 50 cents
An April DES cargo was bid at USD 98.50 and offered at USD 100, down around 75 cents

Expectations of improved economic growth and consequent demand for power are reflected in the stronger forward prices.

Brent crude prices pulled back on Monday after a recent jump as concerns about the effect of higher oil prices on global growth and a stronger dollar helped counter ongoing fears about tensions with Iran.

(Reporting by Jacqueline Cowhig)

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