Russian coal prices hit three-year low

摘要

Prices for Russian high-grade coal in Europe fell to a three- year low last week as demand remained weak and Europe- delivered values hovered at around $50/t. Prices for European customers dropped by $2.28/t on the week to $45.80/t fob Baltic ports. This level was unattract- ive for a number of coal suppliers, as after factoring in the cost of railing, the price comes in at $2-3/t below the pro- duction costs of a large producer with its own sea terminal, according to one market participant. Prices are around 12pc above lows touched in the second half of 2015 and the first half of 2016, when they fell to around $40/t fob Baltic ports.