Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

European 2014 Coal Drops to Record as Colombian Talks to Start

Feb. 26 (Bloomberg) -- European coal for next year fell to a record as workers at Colombia’s Cerrejon mine are set to start talks aimed at ending a strike that has reduced supply from South America’s biggest producer of the fuel.

Thermal coal for delivery in 2014 to Amsterdam, Rotterdam or Antwerp dropped as much as 50 cents, or 0.5 percent, to $97.90 a metric ton, the lowest level since the contract started trading in January 2010, according to broker data compiled by Bloomberg. It traded at $98.25 a ton at 2:45 p.m. London time.

Talks between striking workers and management at the mine will start at 2 p.m. local time, Igor Diaz, head of the Sintracarbon union, said today.

Supply disruptions in Colombia, including the strike at Cerrejon, its largest mine, have affected 84 percent of the country’s thermal coal exports, according to Michael Hsueh, an analyst at Deutsche Bank AG. The country exported 79.4 million tons of coal last year, of which 55 percent went to European Union countries, he said in a Feb. 15 report.

Coal for delivery in March fell for a fourth day, dropping 0.7 percent to $88.90 a ton.

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.

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.