Europe’s coal price jumps as South Africa strike curbs supply

The price of importing coal to Europe’s largest ports rose the most since May as a strike in South Africa curtails shipments of the fuel during the middle of an energy crisis.

The action by Transnet employees is “lasting longer than anticipated and has started to take a serious toll on exports,” said Alex Claude, CEO of DBX Commodities in London. Coal flows out of South Africa last week were 600 000 tons, the lowest in more than a year, he said.