Coal export prices at South Africa’s Richards Bay, the continent’s biggest terminal for shipping the fuel, rose to their highest level in more than two months.
Coal for immediate delivery added $4.41, or 5.4 percent, to $86.43 a metric ton in the week to Nov. 16, according to IHS McCloskey data on Bloomberg. That’s the highest level since Sept. 7. The price is quoted on a free-on-board basis, which excludes delivery costs.
Prices may fall this week, Bevan Jones, a general manager at London Commodity Brokers Ltd., said in a weekly note.
“South African coal is not pricing into most destinations with Colombian coal comprising most cargoes into Amsterdam-Rotterdam-Antwerp,” Jones wrote.