There's still life in coal
Recent falls in the price of coal were due to increasing supply rather than declining demand
International coal prices have fallen sharply over recent months. The spot free on board (FOB) price of coal shipped from Australia's Newcastle export terminal stood at $72.50/t on 13 June 2019, 40pc below a peak of $120/t reached in July 2018. By the end of last year 30 countries had joined the Powering Past Coal Alliance, a group committed to moving from coal power generation to clean energy. At Perret Associates we expect to see a global surplus of 24m tonnes of thermal coal in 2019, set out in our latest Long Term Steam Coal Forecast. This compares with a deficit of 25mn tonnes at one stage in 2018. Overall, we anticipate that total steam coal imports will fall by 13mn tonnes in 2019 to
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