Australian thermal coal prices climbed to their highest level since 2012 as hot weather in North Asia spurs buying ahead of the peak summer demand season.
The latest coal prices for export from Australia's Newcastle terminal finally closed at $ 115.25 per tonne, the highest since February 2012.
Thermal coal, the world's most used fuel for power generation, has risen 130 percent since its record lows were below $ 50 per tonne in 2016 after years of declines.
Prices were driven by economic growth, especially in Asia, along with supply restrictions due to earlier mine closures and high obstacles to new mine development amid concerns about pollution and global warming.
In recent weeks, a heatwave in North Asia and restocking during the hottest summer months in July and August have spiked demand for both residential and industrial cooling.
Subscribe to news
Metallurgy news
- 06 May 2024
10:21 Indian metallurgy may face obstacles in raw material supply - 01 May 2024
10:11 US stainless steel prices continue to rise - 29 April 2024
10:57 EU steel industry faces supply and demand challenges - 12 April 2024
09:52 EU steel demand to recover in 2025 - Worldsteel - 05 April 2024
12:40 Liberty's European division is headquartered in Vienna - 01 April 2024
12:51 The number of electric vehicles in Kazakhstan has increased ninefold over the year 12:37 Liberty Czestochowa is preparing to resume production - 27 March 2024
11:38 Ferrexpo faced restrictions on the corporate rights of Ukrainian subsidiaries
Publications
06.05 Selection of food for cats and dogs 04.05 Bituminous shingles in the EuroRoof online store 03.05 The best price of a stretch ceiling per m2 with work in Kyiv from the manufacturer Demi-Lune 02.05 Protein in the HealthFit online store 02.05 I-beams of European standards