Record Coal Price Risk Gaining as Australia Prepares for Rain: Commodities

Bloomberg reported that heavy rains forecast for Australia may impact coal shipments and prices.

As quoted in the market news:

The prospect of disrupted supply from the world’s biggest exporter led Citigroup Inc. analyst Daniel Hynes to say coal may “spike” more than 20 percent to about $350 a metric ton, if the disruption is as severe as last summer. The previous La Nina, Australia’s most expensive natural disaster, shut mines and sent coal to a record $330 a ton in the June quarter.

Click here to read the full Bloomberg report.