Prices of high-CV ARA 6000 kcal/kg NAR grade coal delivered in Europe have risen sharply above $400/t today as the region is set to increase the usage of coal-fired power plants to replace Russian gas. European buyers have been seeking to secure available cargoes from other markets as the deadline of Russian sanctions (10 August) nears. The price of coal for delivery in Europe has risen by 152% this year compared with a 75% rise in the price of gas.
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