Reuters reported that freezing weather across much of Europe pushed up power, gas and coal prices on Wednesday, although no fresh trades were reported.

One European trader said that "It's been one of those days when all the energy markets are rising and coal has to follow.”

Utility buyers said that coal stockpiles in Amsterdam-Rotterdam-Antwerp remain fairly high and utilities are unlikely to need more spot coal even if the freeze lasts for weeks.

But coal swaps are likely to keep tracking oil, power and gas and further gains will be seen in the physical market.

European prompt power prices had retreated from earlier highs by Wednesday afternoon but weather driven demand remained strong.

European DES ARA prices for immediate delivery in February have slumped below USD 100.00 a tonne, a steep discount to March prices reflecting the lack of end-user demand.

But further ahead, a resumption of Chinese imports and potential weather related supply disruption could also lead to a voltile few months.

(Sourced from Reuters)