Coal futures rose slightly to $240 per metric ton on Friday but remained below a record of $269.5 hit on October 5th amid easing concerns about energy supply in China and Europe. Beijing ordered coal miners to boost production in an effort to curb an ongoing energy crisis, while Russian President Vladimir Putin said Gazprom will send more gas to European countries via Ukraine to ease the ongoing supply squeeze. Still, coal is up almost 200% so far this year as India is also faced with a major energy crunch, following China and Europe. The Indian government said the coal supply squeeze could last six months, as power plants reported to have enough reserves of the mineral for an average of 4 days of production.
Historically, Coal reached an all time high of 269.50 in October of 2021. Coal - data, forecasts, historical chart - was last updated on October of 2021.
Coal is expected to trade at 228.16 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 208.82 in 12 months time.
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