European Coal Jumps as EU Eyes Sanctions on Russian Imports
- Prices at highest in more than 3 weeks on talk of coal ban
- Stocks in northwest European ports at six-year seasonal low
A stockpile of coal at a power plant at the Port of Rotterdam, Netherlands
Photographer: Peter Boer/BloombergThis article is for subscribers only.
European coal futures climbed to a three-week high, buoyed by European Union plans for a phaseout of Russian coal imports in response to the country’s suspected war crimes in Ukraine.
The price jump in Europe matches increases around the world as the Ukraine war prompts users to seek alternatives to Russian coal, which accounted for almost 18% of global exports in 2020. As the global coal trade tightens, U.S. coal prices have surged above $100 a ton to the highest in more than a decade.