Johannesburg, South Africa — MININGREVIEW.COM — 28 September 2010 – Prices for coal shipped from South Africa’s Richards Bay coal terminal “’ the continent’s biggest export facility for the fuel “’ have risen for the first week in three on speculation that colder weather in Europe may boost demand.
Bloomberg News quotes industry researcher IHS McCloskey as saying that export prices advanced 14 cents, or 0.2%, to an average US$84.94 a metric tonne in the week to Sept. 24,. European coal prices climbed for a fourth day.
“Prices in Europe are going up, mainly because of colder temperatures and stronger European energy markets,” said Darren Malone, an analyst at IHS McCloskey in Petersfield, England. “South Africa may be reacting in response to that.”
Coal accounts for about 30 to 40% of U.K. power generation, Malone said. Coal for delivery to Amsterdam, Rotterdam or Antwerp with settlement next year climbed 25 cents, or 0.3 percent, to US$99.25 a tonne. in London. The fuel rose as high as 99.4 cents, the highest price since 10 August.
“Temperatures fell as low as minus 4.4 degrees Celsius in Tyndrum, Scotland, on Saturday night “’ the coldest September night in about 30 years,” said Helen Chivers, a spokeswoman for the U.K. Met Office in Exeter, England. At Exeter International Airport, the low that night was minus 1.1 degrees Celsius, she added. In the London area, the low was normal at about 9 degrees Celsius.”