Mining News

Weekly Commodities Market Wrap

ENERGIES – Coal markets had a wild ride last week, with Richards Bay Coal Terminal physical prices reaching a high of around $450/mt, before coming back down to around $380. As we said previously, this was likely to be the high water mark with the most desperate utilities covering in the spot market. However, the back end of the curve still remains well bid, even as paper traders rolled their time spreads further out, contributing to the steeper backwardation.

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