EURO COAL-Physical declines as traders eye Colombian exports

viernes 28 de marzo de 2014 13:14 GYT
 

* ARA coal for June delivery bid at $75.25 a tonne

* Richards Bay coal for April down $0.35 at $73.50 a tonne

LONDON, March 28 (Reuters) - Physical coal prices declined on Friday as the market prepared for more Colombian supply when Drummond resumes exporting coal.

Cargoes for delivery in June to the ports of Amsterdam, Rotterdam and Antwerp (ARA) were bid at $75.25 a tonne, below the settlement price of $75.70.

ARA coal for July delivery was valued at around $76.00 a tonne, below its previous settlement of $77.50.

Physical coal prices have been falling for most of this week on the expectation that exports would resume from Drummond, Colombia's second biggest coal miner this week.

Colombia's environmental regulator ANLA said on Wednesday it must inspect new installations at Drummond's docks of U.S. coal miner Drummond before it can resume exports.

Drummond's Bogota-based press office said in an email that works would finalise before March ends or before next Monday.

Drummond's port was shut down unexpectedly in January after tighter environmental laws took effect which the facility was not ready to comply with, briefly driving up prices for coal in Europe where most of Colombia's exports are consumed.   Continuación...