European Coal Jumps to 1-Month High on Plan to Curb Russian Fuel
- Benchmark contract rises 3rd day to highest level in a month
- German power for next year matches highest price in April
Barges loaded with coal in Duisburg, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Northwest European coal futures rose to their highest in a month as a proposed ban on imports from Russia is poised to make the global market much tighter.
European utilities and traders will most likely boost imports from South Africa, Colombia the U.S. and even Australia, Morgan Stanley said in a note. “Reconfiguring global trade flows in such a scenario would take time and raise costs,” the bank said.