Coal Prices Begin to Strengthen Again in Q3 2023

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Adi Ahdiat 06/09/2023 18:36 WIB

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According to World Bank data, the average price of Newcastle coal has strengthened since July 2023, continuing to rise to US$152.61 per ton in August 2023.

Average Monthly Newcastle Coal Price (January 2020-August 2023)

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Coal Prices Begin to Strengthen Again in Q3 2023

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Average Monthly Newcastle Coal Price (January 2020-August 2023)

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According to World Bank data, the average price of Newcastle coal has strengthened since July 2023, reaching US$152.61 per ton in August 2023.

The average price in August 2023 increased by 8.52% month-on-month (mom), although it remains significantly lower than a year ago.

Previously, coal prices surged dramatically in 2022, reaching record highs.

The price increase last year was influenced by rising demand following the global economic recovery from the pandemic, further fueled by the Russia-Ukraine war that erupted in late February 2022.

However, in 2023, coal prices have normalized, as shown in the graph.

In its April 2023 Commodity Markets Outlook report, the World Bank projects that coal prices will decline until 2024.

The average Newcastle coal price this year is estimated at US$200 per ton, and US$155 per ton next year.

"Coal prices are expected to fall by 42% in 2023 and another 23% in 2024. However, prices are still well above the 2015-2019 average," said the World Bank.

However, several conditions could potentially drive prices up.

"In the short term, if China's economic recovery is stronger than expected, it will increase demand for imported coal for industry and power plants," said the World Bank.

"A decrease in production, or cuts in coal exports from Russia, could also increase prices," it continued.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Coal Prices Begin to Strengthen Again in Q3 2023

Coal Prices Begin to Strengthen Again in Q3 2023

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