U.S. coal prices soared past $200 per ton last week, according to new data from the Energy Information Administration (EIA).
Spot Central Appalachia coal prices climbed to $204.95 per ton for the week ended Sept. 30, up more than 3 percent from the previous week. This price is the highest level since 2005.
Newcastle coal futures, the benchmark for Asia, touched a record high of nearly $450 per ton. before easing to around $400.
Domestic coal production has been holding steady. EIA numbers show that U.S. coal output totaled 12.1 million short tons, up 1.9 percent year over year. In addition, year-to-date coal production totaled nearly 438 million short tons, up close to 4 percent from the same time a year ago. (A short ton, or just ton in the United States, equals 2,000 pounds. A long ton, used in Britain, is 2,240 pounds.)…