This might help eventually?Thermal coal prices rise as supply...

This might help eventually?


Thermal coal prices rise as supply side issues worsen
Prompt physical thermal coal prices gained USD 2 on Wednesday as traders responded to news that Drummond, Colombia's second largest producer, had reached storage maximum capacity after a loading ban shut down its ability to export.

Data from brokers GlobalCoal showed, that European coal into Amsterdam/Rotterdam/Antwerp DES ARA for delivery in March settled at USD 90.25 per tonne as compared with Monday's close of USD 88.25, propelling the contract to its highest for over two months.

South African cargoes were also priced higher, with coal for March delivery trading at USD 86.50, up around 50 cents from Tuesday.

API2 Coal swaps for 2014 delivery traded at USD 99.25, up USD 0.10 from Tuesday's close.

Thermal coal for delivery in 2014 to Amsterdam, Rotterdam or Antwerp gained 20 cents, or 0.2 percent, to USD 99.30 a tonne

A trader with a power generator said “More utilities are becoming concerned about supply from Colombia because we now have the country's two biggest producers impacted by either a strike or an export ban, meaning buyers are having to think about sourcing elsewhere. Some are getting a bit nervous/”

Source – Reuters