Coal export prices at South Africa’s Richards Bay, the continent’s biggest terminal for shipping the fuel, dropped to the lowest level in 19 months.
Prices fell $2.34, or 2.4 percent, to $94.87 a metric ton in the week ended May 18, according to IHS McCloskey data on Bloomberg. That’s the lowest level since Oct. 22, 2010.
The price is quoted on a free-on-board basis, which excludes delivery costs.
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