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The globalCOAL NEWC index ended Friday at $74.31/t, up 10.76% from the previous week while Asia Pacific Singapore Tapis crude closed Friday night at $US72.40 per barrel, up 5.82% for the week.
The Australian dollar also jumped past the US80c threshold last week but better than expected US employment statistics – with employers only cutting 345,000 jobs last month – led to a turnaround with one Australian dollar trading today at 78.92c.
South African coal prices are also continuing to gain ground.
Richards Bay spot thermal prices rose 2.96% for the week on globalCOAL’s index for Richards Bay, ending Friday at $61.19/t while the globalCOAL DES ARA index climbed 4.04% to $70.28/t.
For the past four weeks spot thermal Newcastle prices have increased 17.34% while Richards Bay prices have stacked on 8.59%.
Tapis crude has risen 17.90% in the same period.
