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Asian coal prices raised by narrowing markets

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World Coal,

China raised its coal prices this week due to tightening supplies, resulting in an increase in total Asian physical coal prices, temporarily stopping a month-long drop in Australian prices. South African markets were also buoyed by strong demand in India.

After a long series of cuts, Chinese state coal firms have increased prices for the second time in a month due to high summer demand.

The coal price surge helped lift prices for Australian cargoes, which are primarily sold to China.

Analysts have said that China's tightening market is temporary.

Edited from source by Joseph Green. Source: Reuters

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