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WB says global coal prices to jump in 2021

Business Materials 21 April 2021 15:30 (UTC +04:00)
WB says global coal prices to jump in 2021

BAKU, Azerbaijan, Apr.21

By Fidan Babayeva - Trend:

The World Bank (WB) predicts a spike in global coal prices in 2021, Trend reports citing the WB.

According to the bank, worldwide demand for coal fell by almost 5 percent in 2020 as a result of a slowdown in economic growth, an increase in the production of renewable energy sources and other factors.

"Coal prices rose 30 percent in the first quarter of 2021 and nearly doubled since August 2020, mainly as a result of supply disruptions," the report said.

As the WB noted, coal prices are expected to stabilize in 2022.

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