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Saturday, February 18, 2012

Steam coal prices rise a bit amid quiet trade

Saturday, 18 Feb 2012

Reuters reported that prompt European physical coal prices ticked higher again by 50 cents to USD 1.50 on Friday as less coal was offered.

A March South African cargo was bid at USD 107.50 with an offer of USD 110.00, up USD 1.50 on the bid.

An April South African cargo was bid at USD 105.00 and offered earlier at USD 105.50, up over USD 1.50 on the bid.

A March DES ARA Russian cargo was bid at USD 98.00, up 25 cents.

An April multi origin cargo was offered at USD 102.00, also slightly higher.

No fresh trades were reported and activity was quiet, utilities and traders said.

DES ARA prices dipped on Wednesday to their lowest level for over a year alongside coal swaps, but the move down was overdone and a correction upwards was expected.

(Sourced from Reuters)

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