Tag: Peabody Energy

Coal: Bracing for More Corrections?

Thermal coal fell sharply by 11.25% to US$92.3 per ton Thursday (Feb 8), but the commodity still gained 15.74% year-on-year. Coal was the worst performing commodity that day, while WTI crude and Brent crude slided further to US$60.4 and US$64.1 per barrel respectively. This was also the deepest correction after nearly three months of rally, which lifting the commodity from US$90 to nearly US$110 per ton.

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Corrections of Coal

tradingeconomics.com quoted thermal coal price of US$92.5 per ton last Friday (Nov 25), collapsed almost 13% from earlier quotes, contributing to 12% weekly correction. This is the biggest daily correction so far since the commodity rallied from its low few months back to multi-year high. Why?

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