After years of pain, coal becomes one of 2016's hottest commodities

Singapore

LESS than a year after the coal industry was declared to be in terminal decline, the fossil fuel has staged its steepest price rally in over half a decade, making it one of the hottest major commodities.

Cargo prices for Australian thermal coal from its Newcastle terminal, seen as the Asian benchmark, have soared over 35 per cent since mid-June to more than one-year highs of almost US$70 a tonne, pushed by surprise increases in Chinese imports.