Thermal Coal Prices

Thermal coal prices averaged USD 104.56 per metric ton in September, down 6.8% from August. On 30 September, the commodity traded at USD 106.20 per metric ton, down 4.8% from 29 August.

As has been the case since late July, prices trended down through mid-September, nearing some of the lowest levels since the global energy crisis began in 2021. Chinese coal demand has been hit by the government’s decision to shift city heating systems to gas to cut air pollution and CO2 emissions. That said, prices then rose late in the month, with preliminary figures pointing to a surge in Asian thermal coal imports in September as a result of recently hot weather plus fading Chinese domestic coal output.