Coal futures extended gains to $119 per tonne in the second week of June, the highest since October of 2011, amid higher demand and supply constraints. The demand from Japan and South Korea surged recently amid expectations for a warm northern hemisphere summer. Meanwhile, mining accidents in China, heavy rainfall in Indonesia, and disruptions in Colombia have been impacting supply. In China, the biggest consumer of coal, prices are up 34% since the end of February, due to a ban on imports from Australia and rising electricity demand, leading Chinese authorities to consider imposing a cap on the price of thermal coal.
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 2021.
Coal is expected to trade at 115.26 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 103.42 in 12 months time.