The globalCOAL NEWC index was down 2.25% to $US74.25 per tonne for the week ending Friday.

South Africa’s Richards Bay spot thermal prices also fell, by 1.66% to $63.75/t.

But the globalCOAL DES ARA index, considered to be South African spot thermal coal prices plus freight, has been climbing for the past month and gained another 1.66% to reach $71.66/t.

According to an ANZ commodities report, China had the highest electricity generation on record for July with the nation chalking up 334.5 billion kilowatt hours, up 8% from June and revealing the effect of hotter weather on power demand.

Oil prices are falling off recent records for the year, with Asia-Pacific benchmark Singapore Tapis crude closing at $73.85 a barrel overnight.

This is nearly 8% lower than the 2009 record of $80.22/bbl set on Thursday.