Twelve months after prices hit unprecedented highs above $US400 a tonne, coal markets are starting to prepare for a cold snap in Europe.
, demand for Australian thermal coal prices is once again on the rise following 12 months of unprecedented levels of volatility for the commodity.
“But after a mild northern hemisphere winter, people were sitting on a lot of stock and that’s what partly drove prices down to $US130 a tonne. But now we’re starting to see things tick up.”Mr Simington added that while demand had staged a tentative recovery in recent months, the lack of supply had continued to hold the price up.
“We think it’ll be another tight winter, so we’re calling prices over the fourth quarter to reach $200 a tonne,” he said.“Energy markets are still likely to be short fuel this winter in Europe. So, if there’s any kind of disruption or unexpected outages within the European nuclear fleet or their renewable portfolio, prices could rise.”Australia’s exports of thermal and coking coal came in at 6.
Twelve months on since prices reached unprecedented levels, Mr Moore said that global coal supply chains were still struggling to pivot to a new demand structure in Europe. Likewise, Morningstar analyst Jon Mills edged up his price targets for NSW thermal coal miner New Hope, despite news of a 2.6 per cent thermal coal royalty for the state’s miners.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ukraine urges Uefa to reconsider Russia decision and will boycott tournamentsUkraine has said it will not play in tournaments involving Russian teams after Uefa announced plans to reinstate Russia’s under-17 sides to European competitions
Read more »
The battle of perceptions in Ukraine is about more than war with RussiaWarfare has always been a blend of physical violence and psychological influence. In the war between Russia and Ukraine the battle of perceptions is shaping up as a fight between democracy and authoritarianism, writes Mick Ryan.
Read more »
Russia-Ukraine war at a glance: what we know on day 583 of the invasionRussia to increase defence spending by almost 70%; EU extends rights of Ukraine refugees to 2025
Read more »
Russia-Ukraine war live: Ukraine holding off ‘intense’ attacks on eastern front; Zaporizhzhia plant ‘not properly monitored’Troops held off attacks from Russian forces, says eastern group forces spokesperson; Greenpeace warns IAEA has too few inspectors at nuclear plant
Read more »
Russia unveils huge spending hike to battle ‘hybrid war’Russia said Thursday that it plans to raise defence spending by almost 70 percent next year, funnelling massive resources into its Ukraine offensive to fight what it calls a 'hybrid war' unleashed by the West.
Read more »