Coal futures were trading at $86 per tonne, easing away from near two-year highs hit last week, as rising temperatures across China slowed down a bit the demand. Prices have been recently supported by colder than usual temperatures in many parts of the northern hemisphere, as well as post-Covid industrial demand from China. At the same time, environmental concerns and bans on imports meant that many coal mines were not operating, leading to supply restrictions and production cuts. China's embargo on Australian coal imports has lingered on for months, as the world's second-largest economy has been replacing those imports with purchases from other countries such as South Africa and Russia where coal prices have risen.
Historically, Coal reached an all time high of 139.05 in January of 2011. Coal - data, forecasts, historical chart - was last updated on January of 2021.
Coal is expected to trade at 83.01 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 74.48 in 12 months time.