Bids for  S.African Coal rise despite low demand

Fresh bids were seen for South African Coal, which helped
steady prices despite subdued demand in Asia and Europe.

FOB Richards Bay prices have hovered just above $100 a tonne
this month but unless China comes back from its New Year holidays and
swoops to buy large tonnages, there seem to be few factors to prevent prices
dipping.

“Richards Bay prices has been bid up strongly while the
market's thin but it's doubtful this can last,” one European trader said.

Indian buyers are still largely sidelined and a few have
been selling cargoes back, traders said.

A February South African cargo was offered at $104 whereas, a
March South African cargo was bid at $104/MT.