The price of Benchmark Richard Bay Coal for the month of May 2023 (LVK23) closed the week at $112.50, down 7.41% from the previous week. This is the lowest level since June 2021, when the price fell to $115.75.
Year-to-date, the price of Richard Bay Coal is down 32%, and it is down 75.5% from its peak in March 2022. The June contract (LVM23) closed the week at $107.95, down 10.41%.
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.
The decline in the price of Richard Bay Coal is being driven by a number of factors, including:
– A slowdown in the global economy
-A decrease in demand for coal from China
-Increased production of renewable energy
These factors are expected to continue to weigh on the price of Richard Bay Coal in the coming months.