South African coal prices crumbled as anticipated European buying failed to materialize, although higher freight prices cushioned the European cif market against the full impact of the losses in the fob market. Offers of South African coal moved progressively lower through the week ending Feb. 11, before a deal for a 35,000mt cargo of RB1 material at 43.75 dollars/metric tonne (mt) emerged on Friday between a Swiss trader and a German utility, down around 2 dollars/mt from the week ending Feb. 4. Delivery is scheduled for March.
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