Coal industry players find new optimism in the future coal business in the next few years, due to the rising coal price and strong demand from China and India. Global coal prices are expected to remain healthy throughout 2018 after the coal price rose by around 34% in 2017. The price of Asian benchmark Newcastle thermal coal had climbed 0.79% to US$101.5 per ton on Thursday (May 10).
Indonesian coal benchmark also reached US$96.47 per ton in the first five months this year, higher than last two-year average of US$85.92 per ton in 2017 and US$61.84 per ton in 2016, respectively.
The optimism comes from the strong demand from China that rose 9.3% in the first four months of this year. Furthermore, the two-year low demand trend from India is expected to end this year. India would increase its coal imports amid soaring demand from its power generation.