2025.10.3017:43:48UTC+00Coal Holds at Narrow Range

As of the close of October, thermal coal futures from Australian ports were priced at $104 per tonne. This price has remained in a narrow range since the month's onset, reflecting a balance between strong demand projections and a backdrop of plentiful supply. The Chinese government has indicated its ongoing reliance on coal power for the coming decades, suggesting a peak in demand by 2030 and a reversal of earlier plans for coal phase-out. This trend mirrors the continued dependency on coal across other Asian countries and Europe, driven by an unstable power supply and the growing energy requirements of data centers. However, recent data reveal that Australian thermal coal grades have underperformed compared to other Asian grades, suggesting that demand from Japan and South Korea is relatively weaker than that from India and China. These latter countries have capitalized on more affordable coal grades from Indonesia to boost their production.