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Coal price surge coincides with hedge funds

Financial Times- Coal prices have doubled over the past year to record levels and could spike even higher as a power crisis in China combines with supply problems in leading exporting countries to tighten the market further.

The surge in prices coincides with fresh interest from hedge funds and other investors looking to gain exposure to the commodity thanks to greater liquidity in the previously opaque over-the-counter coal market.

"Coal has the strongest fundamentals of any commodity play," says Adam Knight, co-head of commodities at Credit Suisse.

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