High coal prices set new record

Washington DC (Platts)--21Jun2004

The Platts benchmark physical delivered European coal marker, CIF ARA, 90-day
forward delivery, hit a new record Monday at $74/mt. The previous high was
$70.90/mt set in February, although it had been as high as $70.33/mt at the
end of May. The difference in this new record high is that it is being driven,
not by high freight rates as in the past, but by high coal prices.

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