Could the strike end up helping Cerrejon and other thermal coal exporters?

摘要

European thermal coal prices shot up quickly Friday morning on the news that a strike has been declared at the Cerrejon mine (see page 6 for details). Colombian spot thermal for prompt delivery rose to $8o.oo/tonne FOB Puerto Bolivar, up from $78.50/ tonne at the end of January. "I do believe Cerrejon has suffered through a strike before. This isn't their first one, but it was back in the 1990s, so it has been a damn long time," a Colombian old-timer told Energy Publishing.