LONDON Dec 13 (Reuters) – Physical prompt coal prices
were little changed on Tuesday on shrinking liquidity in the
holiday season in Europe, despite a rally in oil futures after
the International Energy Agency forecast demand growth next
year.
The IEA’s five-year outlook for coal was more bullish than
for oil, with a forecast of a steady rise in European and Asian
imported prices to 2016 due to growing absolute demand from
China and relatively strong demand from India.
Global coal demand will rise by 600,000 tonnes a day between
now and 2016, the IEA said.
Brent rose above $108 a barrel, recovering most of Monday’s
losses.
Spot trade has been extremely thin for the past week and is
getting thinner as the holiday season nears, traders and
utilities said.
“There are very few people in the market and no real
interest to trade – the bid/offer spreads show that,” one trader
said.
TRADES
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