Jakarta – Coal prices rose in yesterday’s trading. This increase occurred after a two-day straight correction.
Yesterday, the price of coal on the ICE Newcastle (Australia) market closed at US$ 150.15/ton. Soared 3.84% compared to the previous day.
Although the price of coal rose quite sharply, it could not close the previous correction that occurred for two days in a row. In those two days, the price fell 6.16%.
The increase in coal prices today occurred after the release of China’s import data. In November 2021, China imported 35.05 million tons of coal, the highest so far this year.
In the first 11 months of 2021, China’s coal imports were recorded at 292.32 million tons. Grow 10.6% from the same period the previous year.
The supply of coal at the power plant is also adequate. As of November 24, 2021, coal stocks in power plants reached 147 million tons.
China is the world’s largest coal consumer. So when China’s consumption rises, the price of coal will increase.
