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Thursday, August 13, 2009

Euro Coal-Prices flat despite utilities buying

Wednesday, 12 August 2009

Prices of physical coal cargoes for delivery into Europe were little changed on Tuesday despite some buying by utilities.  Three October delivery DES AR cargoes of 52,000 tonnes of multi-origin coal was heard traded at $72.00 per tonne. The prices were in line with a cargo traded on Friday. No physical cargoes were seen traded on Monday.  One Richards Bay cargo of 75,000 tonnes for November was sold to a bank by a trader at around $66.85, traders said.
British gas prices were little changed on Tuesday, with ample supply offsetting orders from a big buyer. Coal remains a less attractive fuel for UK-based power generators that have been burning gas heavily this summer because of plentiful supplies of cheap gas.
European Union carbon emissions were barely changed on Tuesday, supported by equity markets and macro-economic data.  Lower carbon prices make coal fired power generation cheaper.

Source: Reuters