European Coal for 2014 Little Changed; Glencore Doubles OutputMarek Strzelecki
European coal for 2014 was little changed. Glencore International Plc, the world’s largest publicly traded commodities supplier, said it more than doubled production of the fuel last year.
Thermal coal for delivery to Amsterdam, Rotterdam or Antwerp rose 10 cents to $100.60 a metric ton at 1:50 p.m. in London, according to broker data compiled by Bloomberg. The contract earlier gained as much as 0.3 percent.
Output of the fuel used in power plant stations rose to 41.8 million metric tons in 2012 from 20.5 million tons, after acquisitions in South Africa, Baar, Switzerland-based Glencore said today in a statement. Xstrata Plc, the Swiss mining company Glencore is seeking to buy for $36 billion, boosted coal production 7 percent last year to 90.4 million tons, it said in a separate statement.
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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