75 days ago • Posted by William Ramstein
Coal prices rally as Chinese demand surges
The seaborne thermal coal market is tight. 25m tonnes of Colombian production has been shortened this year. Demand in Asia started to pick up due to economic recovery. China has had a hard time meeting demand thus a supply crunch has pushed for imported coal. China has bought from producers in Indonesia, Russia, and South Africa. China is said to be the underlying source of the price increase over the past couple of weeks, increases seen in South Africa and Australia see graph, source: FT.