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Coal price rally comes to the rescue of commodity trading giants

Posted on 31 October 2016

An unprecedented surge in coal prices in the past few months to more than double their June levels is a big fillip for Glencore and Noble, who are among the biggest traders of thermal coal, which is used to produce electricity.
They are taking advantage of their mine production, storage facilities and shipping fleets to provide users of coal with cargoes at short notice and at premium prices, sources familiar with recent deals told Reuters. They are also striking longer-term supply deals, also on rich terms, the sources said…………………………………..Full Article: Source


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