Asian Coal Prices Surge as Indonesia Tightens Export Controls

Benchmark coal prices in Asia surged to the highest in almost two years following a government announcement from Indonesia concerning control of commodity exports, including coal. The new rules for commodity exports would cause delays in outbound shipments of coal from Indonesia, Bloomberg noted in a report on the price news, adding the disruption comes amid climbing demand for coal amid the summer heat that drives higher electricity consumption for air-conditioning. Demand for coal has increased considerably since the start of the U.S. and Israeli…