* European API2 2015 coal futures near 12-year low
* China October imports down 21 pct on year
LONDON, Nov 11 (Reuters) - European thermal coal prices were underpinned by potential logistical issues in Germany, after unseasonably dry weather caused low water levels on the Rhine, although the global supply glut limited gains.
European cargoes for nearby delivery into Amsterdam, Rotterdam or Antwerp (ARA) GCLARAPDSMc2 last closed at $54.50 a tonne, having risen around 2 percent in the past month.
European API2 coal futures TRAPI2Yc1 were near a 12-year low, trading down 0.4 cents or 0.9 percent at $46.50 a tonne at 1600 GMT.
Traders said they were monitoring the situation in Germany where low water levels on the Rhine could reduce coal demand.
"The rivers in Germany are very low and it's beginning to cause problems," said a trader.
The backwardated structure of the market, where nearby contracts are more expensive than later-dated contracts, has meant that there has been no incentive to stockpile coal, leaving little buffer.
Traders in Germany said weather forecasts pointed to a possibility of more rainfall from the middle of next week, however, which could bring a slight rise in river levels.
Demand for imports in China and India continued to disappoint, with China's October imports falling 21 percent from the same period a year ago, while India's coal imports fell 5 percent. urn:newsml:reuters.com:*:nZZN07LA16 urn:newsml:reuters.com:*:nL3N1343FN
China, the world's biggest coal consumer, has seen a sharp fall in imports due to a combination of the government's desire to help its financially distressed domestic industry and also the environmental concerns around coal-fired power generation.
Researchers at Chinese government-backed think-tanks have said the country should slow down its expansion plans for coal-fired power plants to take account of an expected decline in demand from energy-intensive industries such as steel and cement. ID:nL3N1311O9
"The big unknown is what's going to happen to the Chinese coal industry because clearly there has been massive over investment on the back of the high prices they had in 2011, 2012," said a trader.
Prompt prices for Australian coal cargoes from its Newcastle terminal GCLNWCPFBMc1 have fallen by over 7 percent in the past month, closing at $50.25 per tonne on Tuesday.