According to media reports, the weak demand for coal across the globe, especially in Europe, drove down the benchmark coal futures price to a three-year low in recent trading session.

Coal futures, referred to as swaps in the industry, traded below $90 a tonne, their lowest since April 2010 when demand for coal in Europe declined because of the global economic crisis, reports indicate.

Some traders opine that oversupply and slow growth in demand dragged down the entire forward curve.