Coal prices reached record highs amid global supply concerns after Chinese consulting firms warned that non-Russian near-term deliveries were being sold.
Newcastle coal in Asia rose 35 percent on Friday to a new record high of $353.75 per tonne. Shipping for June delivery was traded at $415 per tonne.
In the market where Russia is the world's third largest coal exporter, Chinese consultancy firm Fengkuang Coal Logistics stated that alternative countries such as Indonesia, the number one exporter, sold all their capacities during the second quarter.
The firm added on Sunday that some power plants in Southern China have increased their purchases from the domestic market to close the import gap.
Users in Europe, together with consumers in Japan and South Korea, are seeking alternative coal, causing price pressures to increase in the already tight market.
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