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Analysts Revise 2019 Coal Price Outlook Down Nearly USD 4

Coal News - Published on Mon, 15 Jul 2019

Image Source: Montel
Montel, citing FocusEconomics, reported that Pacific basin benchmark Newcastle coal prices will likely average USD 85.70 per tonne this year, down 4.2%, or USD 3.80, from previous estimates, due in part to renewables expansion. Prices in 2020 would average 3.2% less, or USD 2.70 down, than forecast last month, at USD 81.60 per tonne, said the firm, whose assessment is based on an average of projections by 12 economic forecasters. The Global Coal Newcastle index has so far this year averaged USD 87.25 per tonne, with a latest assessment at USD 75.74 per tonne.

FocusEconomics said that “Although prices for Australian thermal coal rose strongly at the outset of July, the increase is expected to be short-lived, due to weak demand from Asia amid a push towards cleaner energy sources.”

Green transition

It said that “A global move towards renewable energy has also reached Asia, which is a key export market for Australian thermal coal.”

FocusEconomics noted, in particular that Japan – Australia’s main customer for the commodities – was expected to move towards cleaner energy at a quicker pace than previously anticipated.

Source :

Posted By : Rabi Wangkhem on Mon, 15 Jul 2019
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