Coal:Newcastle coal futures, the benchmark for top consuming region Asia, rose to above $400 per tonne and is not far from record levels as coal usage is set to gain pace, especially in Europe, where gas prices hover near record levels.
The war in Eastern Europe has created a global energy crunch and exacerbated concerns over coal supplies in a market already in a tight balance. Global coal supply investment is forecasted to grow by 10% in 2022 as tight supply continues to attract investment in new projects.
