Rising coal prices put pressure on Indian cos
They call it black gold and its price is on the rise, true to its name. Relentless buying by energy starved countries, is pushing up the prices of coal in the global markets. More specifically, the price of Indonesian coal has shot up from around $53 a tonne in May 2007 to $121 now, thereby reflecting an increase of a whopping 128% in a year. According to Argus Coalindo Indonesian Coal Index report, the price of Indonesian 6500 KCAL is $121.41 a tonne, while 5800 KCAL is $93.26 and 5000 KCAL is $ 72.86.