Australian thermal coal averaged USD 159.5 per metric ton in September, 9.6% higher than August’s price but down 63.7% year on year. On 29 September, the commodity traded at USD 160.1 per metric ton, up 2.6% month on month.
The spot price rose for the third consecutive month in September, reaching a four-month high. Australian thermal coal is among the most energy-dense in the world, supporting demand for it in two ways: Firstly, it is the type of coal used in Europe and has therefore benefitted from the continent’s shift away from Russian fuel. Secondly, it is increasingly used in China and, as a result, has gained from Beijing’s lifting of an import ban earlier this year and a gradual recovery in industrial production thanks to recent stimulus; the country’s manufacturing PMI was in expansionary territory in August and September.
Australian Thermal Coal (prices in US$/mt, aop)
Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
---|---|---|---|---|---|---|---|---|
Australian Thermal Coal | - | - | - | - | 266.68 | 364.94 | 417.51 | 379.81 |