Australia Newcastle thermal coal index rises 0.1% to reach $129.60/MT

Tuesday, March 15,

Australia’s Newcastle port, an Asian benchmark, rose by 0.1%. Coal prices surged up slightly from previous week’s price of $129.48/MT to reach $129.60/MT.*

Demand for coal is likely to grow by 15 % in Asia as economies of India and China nurture by 8%. To meet up the rising prices, coal miners need to boost their production.

According to the Indonesian Coal Mining Association, “Indonesia’s coal production is forecasted to increase by 20% this year as coal prices continue to rise”