* Two Oct DES ARA cargoes trade at $96/T, unchanged
* Colombia rail workers vote to end strike
* Coal shrugs off oil’s rise to $113
LONDON, Aug 14 (Reuters) – Physical prompt coal prices were
unchanged on Tuesday despite oil’s rise close to a three-month
high and a vote by striking Colombian rail workers to return to
work.
Coal often, but not always, moves in line with oil – coal
prices usually lag oil’s movements.
Oil rose to almost $113 a barrel on Tuesday, underpinned by
expectations of further U.S. and Chinese economic stimulus and
worries over North Sea supply constraints, but coal did
not react.
Few trades were reported, and all at levels unchanged from
the previous day.
Two October DES ARA cargoes traded at $96.00 – in the middle
of Monday’s bid/offer range.
The market stabilised after dropping to a two-year low of
around $82.00 in June and crept higher on sentiment more than
physical supply disruption as a result of the Colombian strikes.
Continued…
