API 2 coal swaps firm over $1.50 with short-covering, stronger macro

摘要

London — European API2 (CIF ARA) thermal coal swaps firmed about $1.50 Monday, with trading sources citing short-covering and stronger macroeconomic factors in the absence of any changes in physical coal market fundamentals. One investment banking source said that Brent crude ticked up on-day, as had German power, and the euro had recovered from levels seen the previous week.