South African Coal at 1 1/2 Month-Low

Bloomberg reported that coal from South Africa fell as buyers sought the commodity from Indonesia instead.

The market news is quoted as saying:

“The Indians and Chinese are not buying Richards Bay coal,” Sen said by phone today. “They prefer the lower-quality Indonesian supply and Richards Bay prices will trend lower over the next couple of weeks unless Indian buying emerges.”

To read the full market news, click here.