LONDON, April 3 (Reuters) – European physical coal prices
dipped slightly on Tuesday as mild weather sapped demand for
energy in Europe.
Much of the region is continuing to see mild weather
conditions, which means that energy demand is below the seasonal
norm in most countries.
Although trading was thin for physical coal, bid/offer
spreads moved lower as a result of the mild weather, traders
said.
“The weather’s nice and coal stocks are high, so there’s
very little reason to order physical coal cargoes at the
moment,” one coal trader said.
PRICES
A May South African cargo saw a bid/offer spread of $103/105
per tonne, down around 60 cents since Monday, according to
GLOBALcoal data.
A June cargo was bid at $101.50 per tonne.
A May DES ARA cargo saw a bid/offer range of $93 to $99.75 a
tonne, and the spread on a June cargo was at $97.50 to $99.75.
(Reporting by Henning Gloystein, editing by Jane Baird)
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