After a run-up in exports earlier this year on strong European delivered prices, surging markets could spark a second round of export deals despite historic highs in bulk freight pricing and lure more steam coal out of the US. The assessed price for the dominant European coal contract - API 2 delivered into Rotterdam - has soared more than 20 dollars /metric tonne (mt) from 146.22 dollars /mt on May 1. The API 2 contract traded at 171.25 dollars /mt yesterday and ended up 50cents higher today at 171.50 dollars /mt for prompt-month delivery.
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