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Print[Ferro-Alloys.com] Reuters reported that prompt thermal coal prices recovered slightly from Monday's losses, bolstered by oil's rise to around USD 111 a barrel but few trades were reported.
A November loading South African cargo traded at USD 84.00 a tonne FOB Richards Bay, up around 50 cents.
An October delivery DES ARA cargo traded at USD 84.75 a tonne, also up around 50 cents.
There is continued pressure on prompt South African coal prices because key spot buyers in India and China have largely retreated, waiting for prices to fall further.
Although the market is less oversupplied than it was a few months ago and the record exports of high sulphur US coal which were primarily responsible for the market touching two year lows in June have shrunk, it is not yet in balance.
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