(Montel) European coal prices brushed off an otherwise bearish session in energy markets and increased nearly 2% on supply fears in South Africa and Colombia.
The front-month API 2 contract last traded up USD 1.15 to USD 113/t, after reaching USD 113.90/t earlier in the session, on Ice Futures. On Friday, it settled at a 3.5-month low of USD 110.05/t.
The front quarter, meanwhile, last traded USD 1.80 higher at USD 108.50/t.
“There are bids on the physical market and I believe it’s the news out of Richards Bay [in South Africa] restricting…