Global coal prices have risen significantly recently after a record low in the first quarter of 2016, market analyst JS Research said. The price per tonne of coal jumped nine percent to trade around $ 60. "We believe this rise was driven by a reversal in crude oil prices, declining production in China and the US, and improved demand from emerging markets," said an analyst at JS Research.
Even after the recent supply cuts, the analyst believes that the rise in prices will be temporary, given the weak outlook for demand in China due to environmental concerns. “We keep our estimates intact for a while and expect commodity markets to normalize,” he said, adding that “we have already assumed a conservative coal price of $ 58 /t (on average) for 2017.”
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