Coal futures extended gains and rose to above $80 per tonne in the third week of December, a level not seen since May of 2019, boosted by winter demand for heating and growing industrial activity coupled with tight supply in the biggest consumer China. China's coal imports fell by 15% month over month in November and dropped by 20.8% compared to the same month in 2019 as the country restricted imports from top suppliers Indonesia and Australia. Meanwhile, an accident at a coal mine in southwest China that killed at least 23 workers, the second in the region in two months, is further disrupting local supply.
Historically, Coal reached an all time high of 139.05 in January of 2011. Coal - data, forecasts, historical chart - was last updated on December of 2020.
Coal is expected to trade at 80.29 USD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 72.04 in 12 months time.