Reuters reported that prompt physical coal prices rose slightly on recently helped by increased bids for spring cargoes. One London base coal trader said "We have seen some bids for physical deliveries in March and I think there are coal users out there that want to cover themselves for spring time ahead of the Chinese returning to the market en masse." Chinese importers have been out of the market for the past few weeks and are not expected to return until after the Chinese New Year holidays on 23 January. Traders said that the physical market may also have received some support from financial coal swaps trading where the API2 2013 contract rose back above USD 113 a tonne on Thursday up from just above USD 111 earlier in the weak. 1. Trades An April Newcastle cargo was traded at USD 114.50 a tonne. 2. Prices A February loading South African cargo was bid at USD 105.00 with no offer. A March loading South African cargo was bid at USD 104.50, up half a dollar since Wednesday. An April loading South African cargo was bid at USD 103.35 up 35 cents.

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