The coal futures remained above $90 per tonne, a level not seen since March 2019, as top consumer China is expected to face shortages in imports of coking coal from major supplier Mongolia after fresh Covid-19 restrictions were reintroduced at the Ganqimadodu border, the gateway for Mongolia coking coal to China on March 16th. Coal prices are up almost 80% from a nearly 4-year low of $50.45/tonne hit in August, supported by government policies, particularly China’s ban on Australian coal imports and supply issues after producers cut on output as prices weakened during the height of the lockdowns across Asia.
Historically, Coal reached an all time high of 139.05 in January of 2011. Coal - data, forecasts, historical chart - was last updated on March of 2021.
Coal is expected to trade at 88.25 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 79.18 in 12 months time.