Coal booms as Japan kills it

Thursday, 22 July 2021

Australian thermal coal has suddenly joined the ranks of crazed commodities. In the past two weeks it has literally gone vertical to prices unseen since pre-GFC:

There are heats waves from Europe to China straining power grids triggering this price spike. It is also following the recent LNG price spike given the two energy sources move together. I do not expect either to last very long.

And, longer-term, cop this:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.