Richard Bay trades at 8-month high; NW Europe struggles

摘要

Benchmark South African coal prices traded in the mid-$70s/t this week, buoyed by trader interest, while values in Northwest Europe remained under pressure from high stockpiles. End-users in India and Pakistan were restocking inventory with 5,500 kc NAR material and traders are banking on that to squeeze the benchmark 5,850 kc NAR min market. Concerns about industrial action have also underpinned sentiment. South Africa’s National Union of Miners met with Glencore during the week and will meet again on Monday to discuss pay and conditions.