The rise in renewable energy generation capacity and the freefall of coal energy generating have brought the price of coal below $75 per tonne in the last six months. China, the world’s largest coal consumer, is set to speed up efforts to provide technological and policy support to the renewables sector to ensure they can operate subsidy-free. Still, coal prices are expected to recover this year on stronger demand from some Asian countries, particularly India, Indonesia and Vietnam.
Historically, Coal reached an all time high of 139.05 in January of 2011.
Coal is expected to trade at 70.43 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 74.11 in 12 months time.