Reuters reported that prompt physical coal prices slipped by around 75 cents for the third day running, despite freezing European weather that has boosted gas and power values due to a surge in heating demand, because utilities have little available storage space.

TRADES

A March loading South African cargo traded at USD 105.00 a tonne on Friday but a 50,000 tonne March cargo also traded at USD 103.50, down around $1.00.

An April loading South African cargo traded at USD 103.10.

PRICES

A March DES ARA multi origin including US coal cargo was offered at USD 98.25 with no bid, down 75 cents

An April delivery Colombian Capesize cargo was offered at USD 99.20 with no bids against it, down 30 cents on the offer.

As per report, European utilities are running out of stockpile space at the key import hub of Amsterdam-Rotterdam-Antwerp and so are hesitant about taking the opportunity of buying prompt cargoes, which are USD 10 a tonne cheaper than forward, and placing them on stocks to use later in the year.

(Sourced from Reuters)