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Russian thermal coal prices reach new highs

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World Coal,

Spot thermal coal prices for NAR 6000 kcal/kg fob Baltic Russian coal reached a six year high last week of US$93.44/t, tracking higher European values, according to Argus Media.

The last time higher price was recorded at the end of March 2012 when Argus assessed fob Baltic at US$93.50/t. The spot price for NAR 6000 kcal/kg Russian thermal coal fines exported through Ukrainian and Russian Black Sea ports also rose significantly – by over US$2/t on the week to US$92/t.

European prices rose as coal supply in Europe declined after much tonnage was redirected to the Asian market chasing better prices there. Separately, European coal prices were recently supported by anticipation of healthy coal burn in Germany amid weaker renewable power output.

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