Richard Bay Coal price hits 10-month low at $99.75

January 10, 2025 (MLN): The price of Richard Bay Coal has dropped to $99.75, declined by $8.10 or 7.51% marking a nearly 10-month low since March 2024.

The contract's trading range over the past 52 weeks spans from a low of $99.75 to a high of $177.90.

Richards Bay Coal Historical Performance

The contract's trading range over the past 6 months has been between a low of $106.90 and a high of $117.

Richard Bay Coal Monthly is a futures contract that is based on the price of coal loaded at the Richards Bay Coal Terminal in South Africa.

It is traded on the ICE/EU exchange and has a contract size of 1,000 metric tonnes.

To note, Indonesia’s coal production reached a new high in 2024 amid rising demand for energy both domestically and globally, as Bloomberg reported today. 

Last year’s output was at 831 million tons, according to preliminary data updated on Friday by the Ministry of Energy and Mineral Resources.

That’s 17% higher than the government’s target for 2024. Sales also rose to their highest level, the data showed.

The Southeast Asian country is the world’s biggest exporter of dirty fuel and relies on it for the majority of its power needs.

 President Prabowo Subianto has said Indonesia is planning to retire all its coal power plants by 2040.

Global coal consumption has doubled in the past three decades, though demand is set to plateau through 2027, according to the International Energy Agency. 

In most advanced economies, coal demand has already peaked and is expected to keep decreasing through 2027, the agency said in a December report.

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