* EDP buys Colombian, U.S. coal for 2013, 2014
* Indian spot buying starts to revive
LONDON, April 24 (Reuters) – European prompt physical coal
prices softened again on Tuesday but few trades were reported.
A May loading South African capesize cargo traded at $99.70
a tonne, falling below $100 once more, but the price reflects
the discount which a very prompt cargo would have, traders said.
In the European market, Colombian and U.S. coal continues to
dominate supply and keep a lid on price rises.
Portuguese utility Energias de Portugal (EDP) has
bought 2.4 million tonnes of mostly Colombian but some U.S.
thermal coal for 2013 and 2014 delivery at just over $3.00 a
tonne below API2, half from a Colombian producer
and half from a trader.
Portugal’s Carbopego is also expected to award a tender for
two coal cargoes by the end of this week and also to buy
Colombian coal, which with U.S. fuel is the most competitively
priced into Europe.
There has been a revival of Indian spot importing during the
past week and this could support Richards Bay prices, if it
continues, they added.
Several cement makers have bought spot cargoes during the
past several days, some as an alternative to petcoke, which is
in tight supply.
Continued…
