Asia’s Coal Prices To Stay High as Supply Drops and Demand Firms

Thermal coal prices in Asia are expected to stay elevated in the coming months as demand is strengthening in the ongoing gas-to-coal switch, while supply from China and Indonesia is falling, Fitch Ratings said in a report. Coal prices in China, for example, have hit a three-year high in recent weeks as supply from key exporter Indonesia remains restricted due to government policies and strong El Niño disrupting river barge movements. Indonesia’s thermal coal exports have been crimped by government production quotas and heightened uncertainties…