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Asia Coal Price Hits Record as Global Hunt for Fuel Escalates

  • La Nina is potential risk to Australia supply: Morgan Stanley
  • Europe’s coal demand is continuing to strengthen on gas woes

Thermal coal in Asia advanced to a record as a threat of supply disruptions adds new risks to a global energy sector already engulfed in crisis.

Spot physical coal loaded at Australia’s Newcastle port was priced at $436.71 a ton on Friday, an all-time high, according to a biweekly index compiled by OPIS seen by Bloomberg News. That’s nearly triple the price this time last year.