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Coal Hits Another Record High Of $ 430 Per Tonne

Coal :Newcastle coal futures topped a new record high of $430 per tonne amid the conflict in Ukraine.

Recent sanctions on Russia, such as restricting access to European ports, triggered a rush by utilities in Asia and Europe to find alternative suppliers, such as Australia.

The war has created a global energy crunch and exacerbated concerns over coal supplies in a market already in the tight balance after outages.

The contract has surged more than 100% since the beginning of 2022, with earlier bullish sentiment already fueled by supply disruptions in top exporting countries such as Indonesia and Australia.