Richard Bay Coal sinks to lowest level since June 2021

MG News | May 15, 2023 at 02:22 PM GMT+05:00

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May 15, 2023 (MLN): Richard Bay Coal for the month of May 2023 (LVK23) closed the week at $112.50 on Friday, marking a decline of 7.41%, the contract will expire on 26 May.

Notably, this is the lowest level since June 2021 when it fell to $115.75, before the massive run to new peaks.

It is down by around 32% Year to date (YTD) in 2023, and by around 75.5% from the peak which was in March 2022.

Meanwhile, the June contract (LVM23) closed the week with a massive decline of 10.41% to stand at $107.95 on Friday.

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.

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