MARKETS

Chinese economic improvements power coal prices

COAL prices were supported by positive Chinese macroeconomic data, with industrial production ris...

Lou Caruana

Thermal coal swap prices rose across the curve particularly towards the front end, up more than 1% but spot prices were mixed.

Coking coal prices have been staging a small recovery over the past three weeks but the price recovery could be short-lived, ANZ warned.

“Supplies could increase after site maintenance at mines is completed and China's steel output begins to decline for Chinese holidays at the start of October,” it said.

“In other news, China will reportedly pilot emissions trading schemes regionally before the end of 2013 and launch ETS nationally after 2015.

“This plan is likely to put further pressure on Chinese steelmakers.”

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