EURO COAL-Futures prices drop to just above $80 per tonne

miércoles 2 de abril de 2014 11:54 GYT

* Coal swaps trade near 4-year lows

* Price falls in line with lower oil, gas and power markets

LONDON, April 2 (Reuters) - European coal futures contracts hovered close to four-year lows of just above $80 per tonne on Wednesday afternoon as the entire energy sector saw prices fall.

API2 2015 coal futures contracts were trading at $80.05 per tonne at 1625 GMT, similar levels seen during the height of the global financial crisis in 2008 and 40 percent below last peaking in 2011.

Coal prices have steadily dropped during the past three years, suffering from weakening demand in both industrialised and emerging economies, and because exports are increasing in most producing counttries, such as Australia, Colombia, South Africa and the United States.

Wednesday's downward move was further supported by falling prices across energy markets, traders said.

"The entire energy sector - oil, power, gas and coal - saw some pretty substantial drops today, so coal was just swimming along with the tide," one energy trader said.