Sunday, January 24We Break the News

Coal Climbs to 21-Month High

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Coal futures extended gains and rose to above $88 per tonne, its highest level since May of 2019, amid colder than usual temperatures in many parts of the northern hemisphere, as well as post-Covid industrial demand from China. At the same time, environmental concerns and bans on imports meant that many coal mines were not operating, leading to supply restrictions and production cuts. China’s embargo on Australian coal imports has lingered on for months, as the world’s second-largest economy has been replacing those imports with purchases from other countries such as South Africa and Russia where coal prices have risen.

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