Coal futures were trading above the $90 per tonne level, close to levels not seen since March 2019, amid tightening supplies and higher restocking demand. Top consumer China has been facing some supply shortages amid coal mine inspections and falling imports, while some production suspension in Inner Mongolia to curb emissions tightened supplies further. Coal prices are up almost 80% from a nearly 4-year low of $51/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 May of 2021.
Coal is expected to trade at 89.48 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 80.28 in 12 months time.