Coal prices continue to rise in European ports

International coal prices have continued to rise in recent weeks. The most dynamic growth was observed in European ports, according to the latest analysis by the Industrial Development Agency, which monitors the situation on the coal market.

Currently, the price of coal on the world market is for the third time on the growth stage in 12 months. On all global terminals, price indices fluctuated between USD 89 and USD 100 per tonne. The factors that led to the further uptrend are mainly related to the reduction in supply in the Atlantic region as a result of the redirection of supplies to consumers from the Asia-Pacific region, where demand was driven mainly by China, Japan, South Korea and Taiwan.

The rise in coal prices on the European market was further supported by the strengthening of the euro against the dollar. However, a decline in coal consumption among leading consumers such as Germany, with reduced profit margins in the coming months, could depreciate the benefits of exchange rates.

So far, the weakening of the dollar against a basket of currencies has had a greater impact on the international carbon market. Since January, the Australian dollar is up 10 percent, the Japanese currency 7 percent and the Chinese currency 6 percent.