Thermal coal prices averaged USD 146 per metric ton in September, up 11.7% from August. On 30 September, the commodity traded at USD 146.50 per metric ton, up 3.4% from 31 August.
Australian thermal coal prices rose further in September. The cost of LNG, a substitute fuel, continued to surge in Asia due to the Iran war. Moreover, hot weather across much of Asia due to El Niño has pushed up cooling demand for electricity and for Australian thermal coal in turn; in India, hot weather coupled with monsoon-related supply disruptions led to 40% of coal-fired power plants reportedly operating on low fuel stockpiles in September.
This chart displays Thermal Coal (US$/mt) from 2024 to 2026.
Australian Thermal Coal (prices in US$/mt, aop)
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Q4 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Australian Thermal Coal | - | - | - | 139.10 | 107.82 | 100.51 | 109.36 | 107.72 | 119.71 | 137.15 | 135.42 | - |