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Stem coal prices fall further

Steel News - Published on Thu, 26 Apr 2012

European prompt physical coal prices dropped by around USD 1.50 on Wednesday in line with weaker power demand, and with mounting pressure on prompt values due to coal oversupply.

A June DES ARA cargo was bid at USD 91.50 a tonne, down from over USD 93.00 earlier in the week and although it did not trade at this level, fundamental bearish pressure should push prices down another notch within the next couple of weeks.

TRADES

A June loading Newcastle cargo traded at USD 100.25 a tonne FOB.

PRICES

A June South African cargo was bid at USD 98.75 and offered at USD100.00, down over 50 cents.

A May South African cape was bid at USD 99.25.

A July DES ARA cargo was bid at USD 94.45 and offered at USD 94.75, down over USD 2.00 from Monday\'s levels

Despite strong coal burn in the UK, Germany, Italy and Spain, there is still a substantial amount of coal in ARA inventories - up to 9 million tonnes, according to some industry sources.

Source - Reuters

(www.steelguru.com)

Posted By : admin on Thu, 26 Apr 2012
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