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Mastering the Commodities Markets by Francesca Taylor

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COAL PRICING AND PRICE DISCOVERY

The majority of coal is mined and used domestically but in almost every country additional coal supplies are required. Coal might be transported over vast distances as users seek specific grades of coal for their differing requirements. Transport is most often in bulk carriers by sea, hence the given name of seaborne coal.

Transportation costs account for a large share of the total delivered price of coal; therefore international trade in coal is effectively sub-divided into two regional markets – the Atlantic and the Pacific. The Atlantic market is made up of importing countries in Western Europe, notably the UK, Germany and Spain. The Pacific market consists of developing and OECD Asian importers, notably Japan, ...

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