While so much attention this year has focused on gold, it's metallurgical coal that has suddenly become the unlikely star performer of 2016. Traders in metallurgical coal, also known as "coking coal," saw the Steel Index price of premium hard coking coal jump another US$14.80 per tonne on Sept. 13 to a record US$195.70 per tonne, or up 20% in a week. Since July, metallurgical coal prices have risen an astonishing lll%f and are up almost 150% since the start of the year, making metallurgical coal the best performing commodity of 2016.
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