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European Coal Price Has Biggest Drop in More Than a Week

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Dec. 3 (Bloomberg) -- European coal for 2013 delivery rose to the highest price in more than a week as crude oil gained.

Thermal coal for delivery next year to Amsterdam, Rotterdam or Antwerp advanced 0.5 percent to $97.45 a metric ton, at 1:45 p.m. in London, according to broker data compiled by Bloomberg. That’s the highest level since Nov. 23.

Brent crude for January settlement rose 38 cents to $111.61 a barrel on the ICE Futures Europe exchange in London as China’s official manufacturing index reached a seven-month high, signaling economic recovery in the world’s second-biggest crude consumer.

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.

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

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

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