London—Atlantic thermal coal prices gained significant ground in the week ended May 14, with European CIF ARA, South African FOB Richards Bay and FOB Colombia all touching multi-year highs. European CIF ARA coal prices rallied strongly throughout the week on a number of factors, with sources citing increased physical demand from end-users, a situation which had been previously kept in check by comparatively low coal burn and high stockpiles. Alongside this increased demand, Russian coal delivered via Baltic ports was still reportedly tight, and dry bulk freight rates meant that any replacement tons form the US or Colombia would be expensive as well, adding further support to pricing.
展开▼
