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European 2014 Coal Falls as Colombia Aims to Start Strike Talks

European coal for next year fell to the lowest in a week as the Colombian government tries to restart talks to end a strike at the country’s largest mine.

Thermal coal for delivery in 2014 to Amsterdam, Rotterdam or Antwerp dropped 35 cents, or 0.4 percent, to $98.75 a metric ton at 1:20 p.m. London time, according to broker data compiled by Bloomberg.

Coal from Colombia covers more than 20 percent of European import demand, Andrew Cosgrove, a Princeton, New Jersey-based analyst at Bloomberg Industries, said in a Feb. 14 note. Workers at the Cerrejon mine started a strike on Feb. 7 over wages and benefits.

Union leaders met with the Colombian Labor Ministry in Bogota yesterday, the Sintracarbon union said on its website.

Bloomberg tracks broker data 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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