LONDON Aug 8 (Reuters) – South African physical coal prices
rebounded on Wednesday to the highest level since the
short-lived rally in June with a trade at $91.05 a tonne for a
September cargo on globalCOAL.
Prompt cargo values were bid strongly higher earlier this
week but no trades were reported.
Buyers in India, the single largest market for South African
coal, said they had been holding out for another price fall and
were not convinced this current recovery would last.
But utilities and traders in Europe cited the impact of the
Colombian rail and mineworkers’ strikes on supply and market
sentiment as the reason for the price rise.
(Reporting by Jacqueline Cowhig; Editing by Alison Birrane)
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