Coal export prices at South Africa’s Richards Bay, the continent’s biggest terminal for shipping the fuel, decreased to the lowest level in four months.
Coal for immediate delivery fell $1.26, or 1.5 percent, to $84.76 a metric ton in the week to March 1, the lowest level since Nov. 9, according to IHS McCloskey data on Bloomberg.
Prices may move sideways or down, after declining amid a weaker euro and softer oil and power prices last week, Bevan Jones, a general manager at London Commodity Brokers Ltd., said in a note.
“News from China on government attempts to cool the property sector have seen falls in demand for both coal and iron ore,” Jones said.
The fuel is quoted on a free-on-board basis, which excludes delivery costs.
To contact the reporter on this story: Marek Strzelecki in Warsaw at firstname.lastname@example.org
To contact the editor responsible for this story: Lars Paulsson in London at email@example.com