European Coal for 2014 Increases as U.K. Use of Fuel SurgesMarek Strzelecki
European coal for next year increased for the first time in five days, paring its third monthly loss, as the U.K said it burnt more of the fuel for power generation last year.
Thermal coal for delivery in 2014 to Amsterdam, Rotterdam or Antwerp gained as much as 40 cents, or 0.4 percent, to $98.20 a metric ton, and traded at $98 a ton at 3:13 p.m. in London, according to broker data compiled by Bloomberg. The contract is set to drop 1.7 percent this month.
The share of coal in U.K. power generation rose to 43 percent last year, the most since 1996, as natural gas use fell, the Department of Energy and Climate Change said today in an e-mailed report.
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.