Jakarta, CNBC Indonesia – Coal prices did not record an increase or decrease throughout last week. Starting the week at US$ 225.75/ton, the price of the black stone finished in the same position.
In the first two trading days last week, coal prices rose sharply by 10.3% and 12.45%, respectively. However, nature then found its balance. The price of this commodity fell 15.71% and 4.7% respectively in two consecutive days. In weekend trading, prices edged up 0.38%.
When asset prices soar, the risk of falling becomes very large. In the case of new embers, that’s exactly what happened.
In the last month, the price of coal rose 32.39% point-to-point. Since the end of 2020 (year-to-date), the price skyrocketed by 191.93%.
Toby Hassall, Refinitiv Analyst, assesses that currently both coal supply and demand have recovered after being hit by the corona virus pandemic (Coronavirus Disease-2019/Covid-19). In the future, with demand that has returned to its pre-pandemic period, the lure of high profits will make producers compete to increase production.
“We expect this supply growth to create price pressures in the medium term,” Hassall said in his research.
CNBC INDONESIA RESEARCH TEAM
(aji / aji)
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