Coal Advances on Speculation of Worsening Floods in Australia

Bloomberg.com reports that coal derivatives advanced because of  fears the flooding that has already closed some mines, will get worse.

The story is quoted as saying:

Record rainfall in Queensland has spread floods across an area the size of France and Germany, disrupting coal mine and rail operations in the region. BHP Billiton Ltd., a joint partner in the world’s biggest coking coal exporter, and producers including Rio Tinto Group and Xstrata Plc are among those that have warned they may miss deliveries

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