Newcastle coal futures, the benchmark for top consuming region Asia, skyrocketed to a new record high of around $460 per tonne, supported by continued robust demand and persistent supply disruptions exacerbated by the war in Eastern Europe. The International Energy Agency sees coal consumption in Europe rising by 7% in 2022 on top of last year's 14% surge, with the continent now turning to seaborne coal from South Africa, Indonesia, and even as far away as Australia as it halts imports from Russia. Demand for coal in India, the world's second-biggest coal importer behind China, is expected to rise almost 10% in 2022 as the country's economy expands and electricity use increases. Markets were tight even before the invasion as soaring natural gas prices in Europe and Asia in late 2021 intensified gas-to-coal switching in many countries. .
Historically, Coal reached an all time high of 457.80 in September of 2022. Coal - data, forecasts, historical chart - was last updated on September of 2022.
Coal is expected to trade at 461.49 USD/MT by the end of this quarter, according to 王者荣耀电竞(江西)积分排榜 global macro models and analysts expectations. Looking forward, we estimate it to trade at 551.06 in 12 months time.