NW Europe up on Colombia strike, Richards Bay steady

摘要

Northwest European thermal coal prices edged up week-on- week, supported by an ongoing Colombian miners’ strike, while the Richards Bay market steadied on firm demand from Indian sponge iron makers. Cerrejón and the Sintracarbón union met virtually on Saturday for the first time since the start of a workers’ strike on 31 August, but little progress was made to resolve a pay dispute that has cut 70,000 t of production a day. Many believe the strike will continue for at least a month, a scenario that will likely lead to a cut in Cerrejón’s exports this year to 16.5-17.0 mt, from 26.8 mt in 2019.