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European Coal for Next Year Falls to Lowest Level in 11 Weeks

European coal for delivery next year decreased to the lowest level in more than 11 weeks.

Thermal coal for delivery next year to Amsterdam, Rotterdam or Antwerp fell as much as 0.3 percent to $96 a metric ton, the lowest level since July 16, according to broker data compiled by Bloomberg. The contract traded 0.2 percent lower at $96.15 a ton as of 2:08 p.m. in London.

Deutsche Bank AG cut its European coal-price forecasts by an average of $10 to $90 a metric ton in 2013 and $95 in 2014 to reflect lower European import prices, driven in part by reduced U.S. coal use in power generation, the bank said today in a research report.

Bloomberg tracks information supplied by ICAP Plc, GFI Group Inc., Spectron Group Ltd., Credit Suisse Group AG, IHS McCloskey, Tradition Financial Services and Tullett Prebon Plc.

To contact the reporter on this story: Marek Strzelecki in Warsaw at mstrzelecki1@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net

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