Dec2, 2011
* No fixed price trades, API4 index deals at -$1-1.20
* Macros continue to be main driver
LONDON Dec 1 (Reuters) - Physical prompt coal prices were little changed on Thursday despite a fall in oil as signs of further economic slowdown in Europe and a weaker factory sector in China outweighed encouraging U.S. manufacturing data.
No fixed price trades were reported but there were several indexed trades for South African cargoes.
Unless supported by strong oil, equities and a weaker dollar, coal prices could drift lower between now and January because short-term fundamentals are bearish, traders and end-users said.
World stocks edged higher on Thursday while the euro gained for the fourth day and a Spanish debt sale saw good demand, keeping hopes alive that the euro zone debt crisis may be contained.
Further ahead in 2012 the outlook is less grim for coal and other bulk commodities.
"We continue to favour the fundamentals for copper, coal and iron ore," Credit Suisse said in its Metals and Mining research note.
Lack of spot demand from China and India has left suppliers struggling to place prompt cargoes already unwanted in Europe and there are almost no bullish fundamental factors.
South African exporters have sold their December cargoes but some players further down the cargo chains formed when cargoes trade multiple times are still battling to find buyers.
A South African prompt cape was being offered on Wednesday with no takers.
Global stocks rallied and the dollar slid on Wednesday after the world's leading central banks acted jointly to ensure financial markets rocked by the euro zone's escalating debt crisis have enough funding.
The banking measures bolstered the appetite for risk, lifting assets such as stocks and commodities while leading investors to dump safe-haven dollar and government debt.
TRADES
No fresh fixed price trades were reported.
A February South African cargo traded at $1.20 a tonne below the API4 index.
A Q2 API4 index trade also took place at $1.00 a tonne below the index.
PRICES
A January South African cargo was bid at $103.25, unchanged.
A February South African cargo was bid at $95.00. A January delivery DES ARA cargo was offered at $112.00, down $1.00.
A February DES ARA cargo was bid at $112.50.
(sourced Reuters)
Showing posts with label coal traders in South Africa. Show all posts
Showing posts with label coal traders in South Africa. Show all posts
Friday, December 2, 2011
Saturday, November 12, 2011
Steam coal prices rise as oil and euro gains
Saturday, 12 Nov 2011
Reuters reported that prompt physical coal prices moved higher by a marginal 50 cents a tonne on Friday although few trades were reported, in line with gains in oil and the euro after Italy's Senate approved economic reforms aimed at restoring investor confidence.
Two December South African cargoes traded at USD 103.50 and USD 104.00 via brokers.
A December loading South African cargo was bid at USD 104.00 and offered at USD 108.00, down 50 cents.
A January South African cargo was offered at USD 108.75.
A November delivery Russian DES ARA cargo was bid at USD 107 and offered at USD 117.
A December delivery DES ARA cargo was bid at USD 115 for Russian material and offered at USD 116, down 25 cents.
(Sourced from Reuters)
Reuters reported that prompt physical coal prices moved higher by a marginal 50 cents a tonne on Friday although few trades were reported, in line with gains in oil and the euro after Italy's Senate approved economic reforms aimed at restoring investor confidence.
Two December South African cargoes traded at USD 103.50 and USD 104.00 via brokers.
A December loading South African cargo was bid at USD 104.00 and offered at USD 108.00, down 50 cents.
A January South African cargo was offered at USD 108.75.
A November delivery Russian DES ARA cargo was bid at USD 107 and offered at USD 117.
A December delivery DES ARA cargo was bid at USD 115 for Russian material and offered at USD 116, down 25 cents.
(Sourced from Reuters)
Saturday, October 29, 2011
Euro Coal-prices rise despite weaker oil
Oct29, 2011
LONDON (Reuters) - European prompt physical coal prices rose slightly on Friday, shrugging off falls in oil and coal swaps.
Physical demand remained thin, because some players with long positions lack the capacity to burn coal and many utilities are burning down their stockpiles before ordering new deliveries.
A December FOB Richards Bay trade was heard at $110.25 a tonne, which was on the upper end of the previous day's bid/offer range of $105/$110.25 a tonne and 65 cents higher than the last heard deal.
Coal futures were also up, with the API2 2012 swaps contract rising to $120 a tonne for the first time since Oct. 13.
Because of the previous downtrend, the 50 exponential daily moving average (DMA) remained below its longer-term 100 and 200 DMAs.
Traders said that strong figures from China Shenhua Energy Co Ltd , the country's largest coal producer and the world's most valuable coal producer, had encouraged the coal market.
Despite its strong figures, Shenhua Energy warned of a slowdown in economic growth, which could drag on energy demand.
The strength came despite a fall in crude oil prices, as traders cashed in on strong rises the previous few sessions.
ICE Brent December crude fell $2.14 to $109.94 a barrel by 1310 GMT, having traded from $109.71 to $112.23.
TRADES
A South African delivery for December was heard at $110.25 a tonne.
PRICES
A South Africa November cargo had a bid at $106 and an offer of $107.50 a tonne.
A December DES ARA cargo was offered at $123.75 a tonne.
(sourced Reuters)
LONDON (Reuters) - European prompt physical coal prices rose slightly on Friday, shrugging off falls in oil and coal swaps.
Physical demand remained thin, because some players with long positions lack the capacity to burn coal and many utilities are burning down their stockpiles before ordering new deliveries.
A December FOB Richards Bay trade was heard at $110.25 a tonne, which was on the upper end of the previous day's bid/offer range of $105/$110.25 a tonne and 65 cents higher than the last heard deal.
Coal futures were also up, with the API2 2012 swaps contract rising to $120 a tonne for the first time since Oct. 13.
Because of the previous downtrend, the 50 exponential daily moving average (DMA) remained below its longer-term 100 and 200 DMAs.
Traders said that strong figures from China Shenhua Energy Co Ltd , the country's largest coal producer and the world's most valuable coal producer, had encouraged the coal market.
Despite its strong figures, Shenhua Energy warned of a slowdown in economic growth, which could drag on energy demand.
The strength came despite a fall in crude oil prices, as traders cashed in on strong rises the previous few sessions.
ICE Brent December crude fell $2.14 to $109.94 a barrel by 1310 GMT, having traded from $109.71 to $112.23.
TRADES
A South African delivery for December was heard at $110.25 a tonne.
PRICES
A South Africa November cargo had a bid at $106 and an offer of $107.50 a tonne.
A December DES ARA cargo was offered at $123.75 a tonne.
(sourced Reuters)
Thursday, March 10, 2011
The biggest company you never heard of
Thu Mar 10, 2011 10:47am GMT
Performance is rewarded on a scale that would turn even Wall Street green, with bonuses for star traders running into the tens of millions. Glencore's 500 partners and key staff are sitting on a book value of $20 billion.
The secret, says the second outsider, is the traders' incredible focus. "I don't recall talking to any of these guys -- and I've spent a lot of time with them -- about anything other than business," he told Reuters. "I have no idea what sort of family life these guys have. This is everything."
Employees are hired young and expected to make a career at the group, where they are known as either "thinkers" -- bright number-crunchers who design the company's complex financial deals -- or "soldiers", the hard-driven traders who fight to win the transactions.
The company's 10 division managers are aged 37 to 52 and remain largely anonymous outside Glencore's business circles. "They're really bright guys, they are really focused, they play to win every day," says a mining executive in North America. Or as the second outsider puts it: "They look like kids, really -- but they are incredibly impressive individuals."
Nobody more so than Chief Executive Ivan Glasenberg, a lean publicity-shy operator whose sport is race-walking. Glasenberg, 54, grew up in South Africa and has been a champion walker for both South Africa and Israel. Each morning he runs or swims, often with colleagues. "The thing about Ivan, he can fly in and meet presidents of countries but he also talks to the guy on the trading floor," said Jim Cochrane, chief commercial officer and executive director of the Kazakh mining group ENRC.
After earning an MBA at the University of Southern California in 1983, Glasenberg was hired by Glencore as a coal trader in South Africa. He does not suffer fools and has a fiery temper, but is also intensely charming and has a sharp memory for details about people, according to people who know him. Despite being a billionaire in charge of thousands of staff, "this is a guy that picks up his own phone," the second outsider said. For more visit Thomson Reuters site
The secret, says the second outsider, is the traders' incredible focus. "I don't recall talking to any of these guys -- and I've spent a lot of time with them -- about anything other than business," he told Reuters. "I have no idea what sort of family life these guys have. This is everything."
Employees are hired young and expected to make a career at the group, where they are known as either "thinkers" -- bright number-crunchers who design the company's complex financial deals -- or "soldiers", the hard-driven traders who fight to win the transactions.
The company's 10 division managers are aged 37 to 52 and remain largely anonymous outside Glencore's business circles. "They're really bright guys, they are really focused, they play to win every day," says a mining executive in North America. Or as the second outsider puts it: "They look like kids, really -- but they are incredibly impressive individuals."
Nobody more so than Chief Executive Ivan Glasenberg, a lean publicity-shy operator whose sport is race-walking. Glasenberg, 54, grew up in South Africa and has been a champion walker for both South Africa and Israel. Each morning he runs or swims, often with colleagues. "The thing about Ivan, he can fly in and meet presidents of countries but he also talks to the guy on the trading floor," said Jim Cochrane, chief commercial officer and executive director of the Kazakh mining group ENRC.
After earning an MBA at the University of Southern California in 1983, Glasenberg was hired by Glencore as a coal trader in South Africa. He does not suffer fools and has a fiery temper, but is also intensely charming and has a sharp memory for details about people, according to people who know him. Despite being a billionaire in charge of thousands of staff, "this is a guy that picks up his own phone," the second outsider said. For more visit Thomson Reuters site
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