Factors and drivers of interdependent markets
2021 was a record-breaking year in every respect. After the pandemic of 2020, all markets found themselves in a commodity supercycle situation, largely due to pent-up demand as well as broken supply chains.
Energy prices rose almost throughout the whole year. Coal was no exception and rose due to strong demand and unstable supply. Prices of steam coal peaked in October, increasing almost three times compared to January.