Newcastle Coal : Trading benchmark for top consuming region Asia, consolidated around $430 per tonne and shy of its September record peak, supported by a combination of robust demand and global supply shortages.
The International Energy Agency sees global coal demand growing by roughly 1% from 2021 to about 8 billion tonnes this year, matching its all-time peak in 2013.
In Europe, increasing energy security concerns exacerbated by a ban on Russian coal trading forced the reactivation of coal power plants. In India,
The world’s second-biggest coal importer behind China, demand is expected to rise almost 10% in 2022 as the country’s economy expands and electricity use increases.
On top of that, soaring natural gas prices in Europe and Asia intensified gas-to-coal switching in many countries. On the flip side, a worsening outlook for growth in top consumer China and signs of increasing domestic supplies should limit some of the upside momenta.