Asian Coal Prices Climb to Highest Since February on Summer Heat

Asia’s coal price benchmark rose to a five-month high after hot summer weather boosted demand for air conditioning and reduced brimming inventories.

Australian Newcastle futures rose to $115.50 per ton, the highest for the front-month contract since February. Coal-fired power generation in Tokyo hit the highest level in 10 months on Friday amid higher-than-normal temperatures. Japan is a major importer of Australian coal.