Collapse of a bridge in Baltimore pushes up coal prices

The collapse of a bridge in Baltimore, the second largest port in the United States, is likely to affect US coal exports for several weeks. The port of Baltimore accounts for around 4% of the world's coal trade. In the last three months of 2023, the coal exported via Baltimore (around 75,000 tonnes per day) was largely delivered to Asia, India (50%) and China (16%). In Europe, the price of coal closed on Wednesday evening at 120.45 dollars a tonne before falling back to close at 119.55 dollars a tonne on Thursday evening. The price is expected to fall in the coming days, as the market remains well supplied.