Coal prices in Europe tied earlier today natural gas market regressed in line with its losses. However, it was stated that tight supply fluctuations and continued demand in Asia supported prices.
The quarterly API 2 contract traded in the 113.75-114.25 range, versus $114/t Friday, while the one-year contract fell $0.33 to $88.25/t. It was stated that the losses were partly a reflection of the sharp fall in natural gas prices at the beginning of the week.
At the Ducth TFF transfer center, one-month natural gas contract prices decreased by 1.13 euro to 35.50 euro/MWh. An analyst noted that physical coal process activity also continues to be suppressed. A coal analyst also noted the restocking period in Asia and tight market conditions in the Pacific basin.
-Foreks News Center-