Reuters: EURO COAL- Prices edge up with stronger gas and power markets

European physical coal prices edged up along with natural gas and wholesale power markets on Monday, and because of an ongoing mining strike in exporter Colombia, but overall price levels remain low as a result of oversupply.

European physical coal for delivery in August rose 25 cents to $73.25 per tonne, and cargoes for delivery in September rose almost a dollar between Friday and Monday to $73.25 a tonne.

"We saw some pretty heavy price rises in gas trading today on the back of some North Sea gas production outages, and that also lifted power markets, allowing coal sellers to raise their offers as well," one coal trader said.

"The ongoing strike in Colombia may at some point affect output, so that's being priced into cargoes for delivery in the next month or two," he added.
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