The spot price for Powder River Basin coal hit a 2-year low this week. On the informal, over-the-counter market, coal contracts for April delivery sold for $6.50 a short ton on Monday. That's the lowest level since Sept. 29, 2009. For perspective, Powder River Basin spot contracts for next month delivery reached $16.35 in February 2008. Charlie Noh, of Platts Coal Group, says that PRB coal is selling low because of the warm winter and lower natural gas prices.
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