20:05 12 May 2019
European coal prices are the lowest in nearly three years - IDA
In April the prices of coal delivered to Europe fell to the lowest level since June 2016, Industrial Development Agency (IDA) data showed. The decrease in prices is due to the systematic increase in inventories and a significant decline in coal use. In Germany, for example, coal accounted for only 8 percent of total energy production.
The total consumption of coal in Germany, Spain, Great Britain, and France dropped almost by half compared to March. According to analysts, even in the case of a short-term increase in coal demand in Europe, this will not be enough to stimulate the growth of prices, because of the high inventories level in European ports. In the last week of April, the inventories were at 6.85 million tons.
(PAP)
