Coal Price Soars 5%! On the Shot Below Yes?

Jakarta, CNBC Indonesia – Coal prices rose again in yesterday’s trading. The price of the black stone even rose for six trading days in a row.

Yesterday, the price of coal on the ICE Newcastle (Australia) market closed at US$ 177/ton. Soared 5.23% compared to the day before.

Coal prices have not stopped rising since November 16, 2021 or six consecutive trading days. During those six days, the price increase reached 21.44%. Wow …

However, the possibility of a surge in coal prices due to the previous severe correction. Although the last six days the price rose more than 21%, but in a month the price of this commodity still posted a 9.37% correction on a regular basis point-to-point.

On October 5, 2021, coal prices hit a record high since at least 2008 at US$ 280/ton. Compared to that peak, the price is still down 36.79%.

So, it is possible that investors are hunting for coal because the price is already cheap. the term, nyerok below …

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