Physical coal prices rebounded today to the highest level since...

Physical coal prices rebounded today to the highest level since the short-lived rally in June with a trade at $91.05 a tonne for a September cargo on globalCOAL.



Prompt cargo values were bid strongly higher earlier this week but no trades were reported.



Buyers in India, the single largest market for South African coal, said they had been holding out for another price fall and were not convinced this current recovery would last.



But utilities and traders in Europe cited the impact of the Colombian rail and mineworkers' strikes on supply and market sentiment as the reason for the price rise.



Meanwhile South Africa's gold output fell by 4 % by volume in June, while total mineral production rose 4.2 % compared with the same month last year, data showed today.


Production of non-gold minerals was 5.3% higher, Statistics South Africa said.


Production of platinum group metals rose 4.8 % in June, a sign that output in the industry is on the rebound after a sharp contraction brought on by a government safety drive.