Coal started June trading above $55 per tonne, although the outlook remained clouded by a sharp decline in demand for electricity as well as efforts to reduce greenhouse gas emissions and intense competition from clean energy. The Energy Information Administration reported that the US consumption of renewable energy overtook coal in 2019 for the first time in over 130 years. On the supply side, companies that produce and burn coal across Appalachia have idled mines and filed for bankruptcy amid sluggish demand.
Historically, Coal reached an all time high of 139.05 in January of 2011. Coal - data, forecasts, historical chart - was last updated on June of 2020.
Coal is expected to trade at 53.36 USD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 47.87 in 12 months time.