EU Coal Rises for First Week Since Oct. as Glencore Cuts
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European thermal coal rose for the first time in three weeks as Glencore Plc prepared to temporarily shut its Australian mines amid a global glut in supply.
The benchmark year-ahead contract advanced 0.4 percent, taking its weekly gain to 1.2 percent, according to broker data compiled by Bloomberg. European coal prices have plunged 68 percent since peaking in 2008 as producers invested in new production from Colombia to Indonesia.