Newcastle coal futures dipped below $137 per tonne, stepping back from a three-month high of $141.75 on April 19th, aligning with global efforts to transition away from coal. Despite being the primary power generation source in 2023, coal faces a sharp decline in Europe, expected to halve within five years due to policy and economic shifts. European coal production, notably lignite, decreased in 2023, with major producers like Germany, Poland, and the Czech Republic seeing declines. Additionally, the downward trend in coal prices align with a broader shift toward cleaner energy sources and stricter environmental regulations. J.P. Morgan notes a surge in global natural gas supply and infrastructure, especially in Qatar and the U.S., facilitating the transition from coal to gas and reducing greenhouse gas emissions.
Coal decreased 10.65 USD/MT or 7.27% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Coal reached an all time high of 457.80 in September of 2022. Coal - data, forecasts, historical chart - was last updated on April 26 of 2024.
Coal decreased 10.65 USD/MT or 7.27% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Coal is expected to trade at 137.13 USD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 147.81 in 12 months time.