Tuesday, May 8, 2007

European Coal Advances to Two-Year High on Ship Rates, Chinese Demand

(Bloomberg) -- Coal burned by power stations for year-ahead delivery to Amsterdam, Rotterdam or Antwerp rose to its highest in more than two years, boosting the price of electricity in markets including Germany, Europe's biggest.

The year-ahead price gained as much as 50 cents, or 0.7 percent to 75 dollars a metric ton today. It traded at $74.75 at 3:43 p.m. in London, according to ICAP Plc prices. It has gained 9.6 percent since the start of the year.


Read more at Bloomberg Commodities News

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