Jakarta, CNBC Indonesia – Coal prices collapsed at the end of last week’s trading. What is the price prospect of the black stone? Have you entered the saturation period?
Last weekend, the price of coal on the ICE Newcastle (Australia) market was recorded at US$ 191/ton. Up 4.97% compared to the previous day’s close of trading.
However, on a weekly basis, coal prices fell 20.86%. This is the worst weekly correction in at least 10 years.
profit taking (profit taking) will indeed always overshadow the price of coal. Although this week was ‘hurt in’, but coal prices still recorded a 4.51% increase in the last month.
Since the end of 2020 (year-to-date), coal prices skyrocketed 133.64%. It seems that there is no commodity whose price has gone up as high as coal.
Therefore, there will definitely come a time when investors are eager to cash out the profits that are already so high. Mass selling action (sell-off) this caused the price of coal to correct.
Next Page –> Coal Prices Will Continue to Drop?
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