Coal news and updates

Prices have rallied 34 per cent so far this year as miners struggle to meet robust demand from the nation’s economic rebound.

 

Thermal coal futures in China surged to a record high as a severe supply crunch overpowered the exchange’s effort to cool down the breakneck price rally.

 

Prices have rallied 34 per cent so far this year as miners struggle to meet robust demand from the nation’s economic rebound. Safety and environmental inspections, mining accidents and an unofficial ban on Australia coal has disrupted supply and tightened the market. A recent worsening in diplomatic relations with Australia has also given the raw material another boost.

 

Futures reversed a drop earlier Tuesday morning after authorities raised trading fees, typically a step that’s taken to cool markets. Trading fees for iron ore futures were also increased on Tuesday.

 

Source: Energyworld.com