Australian thermal coal prices have risen to their highest level since 2012 as hot weather across North Asia spurs buying ahead of the peak-summer demand season. Spot prices for thermal coal from Australia’s Newcastle terminal last closed at $115.25 per metric ton (mt), the highest level since February 2012.

Thermal coal production has surged by 130% since its record lows below $50/mt in 2016 following a yearslong decline.
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