Coal prices at South Africa’s Richards Bay Coal Terminal, the continent’s biggest export facility for the fuel, rose to the highest in almost a month on stronger Atlantic-market demand and speculation China may raise imports.

Data from Petersfield based researcher IHS McCloskey showed that prices gained 0.3% to USD 123.93 a tonne May 3 to 6, the highest level since the week ended April 15. They’ve risen 33% in the past 12 months.

Mr Colin Hamilton a London-based analyst at Macquarie Group Ltd said that “Stocks are being drawn down in the Atlantic basin and Germany has shut some of its nuclear plants. There’s speculation China may come back more aggressively to the international market.”

Chinese thermal coal prices at Qinhuangdao port, the benchmark price for the country, are at the highest since August 2008. That may make Australian and Indonesian supplies more attractive after stocks at the port dropped 36% since March 4. German Chancellor Angela Merkel has put an extension of nuclear energy under review and ordered a three-month halt of the country’s oldest reactors for checks.

(Sourced from Bloomberg)