Coal Price to Rise as Japan Rebuilds, Standard Chartered Says
This article is for subscribers only.
Asian benchmark coal prices may rise 5.1 percent next quarter as the biggest importer Japan rebuilds ports and cities devastated by the March earthquake and tsunami, increasing demand for the fuel, Standard Chartered Plc said.
Coal shipped from Newcastle, Australia averaged $120.85 a metric ton in the week to May 6, according to data from Petersfield, England-based researcher IHS McCloskey. That’s a 12 percent rise over the past 12 months. Prices may average $124 this quarter and $127 in the third, Raymond Chan, an analyst with Standard Chartered in Singapore, forecast in a report today.