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Saturday, November 12, 2011

Steam coal prices rise as oil and euro gains

Saturday, 12 Nov 2011

Reuters reported that prompt physical coal prices moved higher by a marginal 50 cents a tonne on Friday although few trades were reported, in line with gains in oil and the euro after Italy's Senate approved economic reforms aimed at restoring investor confidence.

Two December South African cargoes traded at USD 103.50 and USD 104.00 via brokers.

A December loading South African cargo was bid at USD 104.00 and offered at USD 108.00, down 50 cents.

A January South African cargo was offered at USD 108.75.

A November delivery Russian DES ARA cargo was bid at USD 107 and offered at USD 117.

A December delivery DES ARA cargo was bid at USD 115 for Russian material and offered at USD 116, down 25 cents.

(Sourced from Reuters)

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