European Coal Falls to 1-Month Low as German Minister Slams Use
European coal for next year fell to the lowest in a month as Germany’s environment minister said that its increased use of the fuel shouldn’t become a trend.
Thermal coal for delivery in 2014 to Amsterdam, Rotterdam or Antwerp dropped as much as 50 cents, or 0.5 percent, to $98.25 a metric ton, the lowest level since Jan. 24, according to broker data compiled by Bloomberg. It traded at $98.40 a metric ton at 3:02 p.m. London time.
Germany emitted 931 million tons of carbon dioxide equivalents last year as the use of lignite rose 5.1 percent, the country’s Environment Ministry said.
“We must make sure that this was an exception and that it doesn’t become a trend that’s repeated,” Environment Minister Peter Altmaier said at a press conference today in Berlin.
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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