Coal prices pick up again with record demand

Coal prices are picking up again after peaking in early 2022 and are now looking at the $420 per tonne hurdle. Coal demand is set to reach record levels in 2022, says the International Energy Agency.

According to the agency, global coal demand is expected to reach 8 billion tons, an increase of 0.7%. However, this also depends on whether the Chinese economy can recover as expected in the second half of the year. China has already imposed several lockdowns in key trading cities this year. This has slowed down the Chinese economy in the first half of the year. The crisis in the construction industry is also contributing to China falling short of its own expectations.

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