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Euro coal prices dip on mild weather and high stocks

Steel News - Published on Thu, 05 Apr 2012

Reuters reported that European physical coal prices dipped slightly as mild weather sapped demand for energy in Europe.

Much of the region is continuing to see mild weather conditions, which means that energy demand is below the seasonal norm in most countries.

Traders said that although trading was thin for physical coal, bid offer spreads moved lower as a result of the mild weather.

One coal trader said that \"The weather\'s nice and coal stocks are high, so there\'s very little reason to order physical coal cargoes at the moment.\"

According to GLOBALcoal data, a May 2012 South African cargo saw a bid offer spread of USD 103 to USD 105 per tonne, down around 60 cents.

A June 2012 cargo was bid at USD 101.50 per tonne.

A May 2012 DES ARA cargo saw a bid offer range of USD 93 to USD 99.75 a tonne and the spread on a June cargo was at USD 97.50 to USD 99.75.

Source - Reuters

(www.steelguru.com)

Posted By : admin on Thu, 05 Apr 2012
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