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European 2013 Coal Increases Most in Month on Barclays Outlook
European coal for 2013 delivery increased the most in almost a month after Barclays Plc (BARC) raised its forecast for the fuel.
Thermal coal for delivery next year to Amsterdam, Rotterdam or Antwerp added 1.4 percent to $96.60 a metric ton as of 12:30 p.m. in London, according to broker data compiled by Bloomberg. That’s the contract’s biggest advance since Nov. 23.
Coal in northwest Europe may average $95 a ton next year, 2.2 percent higher than the bank’s previous estimate, as new power plants add some 4 million tons to German demand, Trevor Sikorski, an analyst at the bank in London, said today in an e- mailed research note.
Bloomberg tracks information from ICAP Plc, GFI Group Inc., Marex Spectron Group Ltd., Credit Suisse Group AG, IHS McCloskey, Tradition Financial Services and Tullett Prebon Plc.
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