South African Coal Prices Drop: Recent Rally Seen As Overreaction

Reuters reported South African Coal prices dropped by $4 a tonne, from $92 a tonne, the highest price since June.

As quoted in the report:

This week’s coal price rise on the back of strikes in Colombia which have cut over 1.5 million tonnes from 2012′s exports, was probably an overreaction given the market’s continued, overall oversupply, traders and utilities said.

Click here to read the full Reuters report.