Combined coal stocks at three delivery terminals in western Europe's Amsterdam-Rotterdam-Antwerp trading hub halted a seven-week downtrend to reach a four-week high of around 5.552 million mt Tuesday, according to data gathered from port sources.
The total volume at the three ports jumped 310,300 mt, or 5.9%, on the week, according to Platts data.
The overall rise was primarily due to coal stocks at the EMO Dry Bulk Terminal in Rotterdam climbing 300,000 mt, or 12.5%, from last week to a four-week high of 2.7 million mt, according to port sources.
Stock levels at OBA Bulk Amsterdam's terminal were stable on the week at 2.3 million mt Tuesday, while the OVET Dry Bulk Terminal in Vlissingen had 552,000 mt of coal stored Monday, gaining 10,300 mt on the week.
This is the first week stock levels have climbed since they reached a year-to-date high of 6.4 million mt at the beginning of July.
European-delivered thermal coal spot prices were relatively steady with an upward bias last week, with market participants noting that there had been reinforcement from consistent northwest European utility buying. Platts assessed the price of European-delivered CIF ARA thermal coal basis 6,000 kcal/kg NAR and for delivery within the next 15-60 days at $77.25/mt Friday, gaining 50 cents on the week.
