Markets firm, tight supply supports

摘要

US coal markets moved higher in the week ending Jan. 18, buoyed by colder weather and export trade trimming supply in the near-term, even as broader economic and legislative developments cast a shadow on future market opportunity. Coal's competing fuel natural gas offered support, jumping with the week's cold snap. The average spot price gained 7pc to land at 8.62 dollars/mmBtu. Futures fell slightly with report of a storage withdrawal below expectations, but remained above 8.00 dollars /mmBtu most of the week before slipping to 7.99 dollars /mmBtu at close today.