Thermal Coal Prices

Thermal coal prices averaged USD 100.27 per metric ton in March, down 4.5% from February. On 31 March, the commodity traded at USD 103.00 per metric ton, up 0.9% from 28 February.

Prices declined further in March to the lowest level since April 2021—just when the global energy crisis was beginning. The market remained oversupplied, particularly in China, where demand has been weighed on by an unseasonably warm winter. That said, prices were likely supported by data released in March that showed Chinese imports of thermal coal rose 2.1% year on year to a record high for the January–February period.