European coal set to hit record price levels

European coal set to hit record price levels

London (Platts)--27May2004


The price of coal delivered into northwest Europe looks set to hit new heights
after a couple of trades were concluded on an online platform Thursday at
$71.50/mt. 

The two trades, each for 15,000mt of Global Coal's standard contract coal into
northwest Europe (physical delivery into the Amsterdam- Rotterdam-Antwerp
triangle) took place on the producer-launched Global Coal electronic trading
platform for October and November delivery. The $71.5/mt CIF ARA price comes
in at $4.35/mt above the current price of benchmark API2 coal. Although the
volumes were small and the delivery period falls outside the 90-day window for
the API2 assessment, sources said the trades could be expected to influence
the market, especially when matched with recent tender
offers at similar levels.

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