Coal Rises on Speculation Demand May Build as Reservoirs Fall
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European coal derivatives rose on speculation demand may strengthen in the region as countries cut nuclear output and reservoir levels fall.
“The drivers in Europe are the nuclear shutdowns and low hydro levels,” Karim Kanji, director of coal trading at Barclays Capital in London, said by phone today. Prices are also gaining on a shortage of coal in China to meet summer demand, he said. The country is the world’s biggest coal user.