Coal news and updates

Thermal coal's record price run may end up its own worst enemy: Russell

The price of benchmark Australian thermal coal rose last week to trade near record highs, providing a short-term boost to producers but increasing the risks of longer-term pain.

The Newcastle index , as assessed by commodity price reporting agency Argus, climbed to $258.59 a tonne in the week to Feb. 11, up from $246.34 the prior week and close to the all-time high of $261.11 from the week to Jan. 28.

Indonesian coal prices have also recorded strong gains since the country's government allowed most of its coal mines to resume exports after a ban in January, ostensibly to ensure sufficient domestic supplies.

The Argus index for lower-energy 4,200 kilocalorie per kilogram Indonesian coal jumped to $76.59 a tonne in the week to Feb. 11, up 32% from its 2022 low of $58.15 on Jan. 14, but still well short of the record $143.14 from October last year.