* Prices largely within previous days’ levels
* March S.African bid/offer range at $105.25/$106.75
* Oil, gas and power markets all down
LONDON, Dec 29 (Reuters) – Physical prompt coal
markets saw little activity on Thursday as most traders were
bridging the gap between the Christmas and New Year weekends,
and in the absence of spot trades to give price direction bids
and offers moved largely sideways.
No physical trades were heard, but February South African
Richard’s Bay cargoes were bid at $105.25 a tonne, and March
cargoes saw a bid/offer range of $105.25/$106.75, which was
within the range of the previous day.
With oil, gas, and wholesale European power prices all
dropping on Thursday, coal traders said that the expectation
tended to falling coal prices, once trading resumes next week.
Oil dropped from around $108.50 a barrel on
Wednesday to $107 on Thursday afternoon.
Gas prices were also down, with the UK’s NBP summer 2012 gas
contract below 55 pence per therm for the first time since early
February.
And the benchmark German 2012 baseload power contract was
also weaker at 52 euros per megawatt-hour (MWh).
(Reporting by Henning Gloystein)
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