Coal futures remained near $150 a tonne in the third week of July, the highest level in a decade as a heat wave in Zhejiang, Jiangsu and Guangdong, China's biggest industrial provinces has pushed the electricity consumption to unprecedented levels. Meanwhile, local supply remains limited as drought knocked hydropower generation in Yunnan province, output restrictions remain in place in Shanxi production hubs amid tighter safety inspections and environmental curbs, and as a trade spat with Australia has crimped imports. The coal prices have risen almost 40% since the beginning of May as warmer weather boosted demand in Japan, South Korea, and the United States, and production declined in Indonesia and Australia due to flooding.
Historically, Coal reached an all time high of 150.83 in July of 2021. Coal - data, forecasts, historical chart - was last updated on July of 2021.
Coal is expected to trade at 155.87 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 179.87 in 12 months time.