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Australian thermal coal prices up as demand increase

REUTERS reported that Australian thermal coal prices have hit their highest level since late 2016 as the market heats up on strong demand across North Asia and China in particular. Spot prices for delivery from Australia’s Newcastle terminal last closed at USD 114 per tonne, just down from Monday’s USD 114.50, the highest since November 2016. Coal last reached such levels back in early 2012.

Newcastle is now up by almost 130 percent from the record lows seen in early 2016.

With a near 11 percent increase since the end of 2017, Newcastle coal has far outperformed its main fuel competitor, liquefied natural gas .

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.