European Coal Extends Losses as Lower Mining Costs Prolong Glut
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European thermal coal for delivery next year extended losses as plummeting oil prices reduced mining costs and an oversupply of the mineral in the seaborne market was forecast to treble.
Coal for Rotterdam, the European benchmark, fell as much as 1.5 percent, according to broker data compiled by Bloomberg. Prices from Australia to Colombia plunged for a fourth year in 2014 amid slowing demand in China, the biggest user of the fuel.