Jakarta, CNBC Indonesia – Coal prices fell in yesterday’s trading. Understandably, two days earlier the price of the black stone soared and flew high.
Yesterday, the price of coal on the ICE Newcastle (Australia) market was at US$ 358.45/troy ounce. A fall of 19.63% compared to the previous day’s closing position.
On March 2, 2022, coal prices closed at US$ 446/ton. Soared 46.01% and touched an all-time high.
The previous day, the price of coal finished at US$ 305.45/ton. Jumped 21.45%. So, coal prices have jumped 77.3% in just two days. Crazy …
Therefore, it is natural for investors to ‘itch’ to cash out how. Because the benefits are not cans, so big.
profit taking (profit taking) this puts coal contracts under selling pressure. So do not be surprised the price dropped sharply.
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