22.09.202613:47:29UTC+00Coal Eases from 3-Month High

Thermal coal futures for export from Australia eased to $145 per tonne, retreating from the three-month high of $149 reached on September 7th, as a pickup in Chinese output temporarily countered the latest surge in demand. Beijing’s central authorities issued a joint directive instructing domestic miners to sustain ample production after local coal prices hit multi-year highs. Domestic thermal coal output had been declining since May, following an accident in Shanxi province that triggered a wave of safety inspections across the sector.

At the same time, demand remained robust from key buyers of Australian coal, notably Japan and South Korea, where soaring LNG prices prompted utilities to ramp up coal-fired generation. LNG supply has held near recent peaks, while the war in the Middle East has disrupted tanker routes from GCC exporters. In line with these developments, the EIA revised its outlook to project a 1.2% increase in global coal demand this year.