Thermal Coal Prices man

Thermal coal prices averaged USD 132.24 per metric ton in May, down 1.8% from April. On 29 May, the commodity traded at USD 131.25 per metric ton, down 2.1% from 30 April.

In March, the Iran war pushed up Australian thermal coal prices at the sharpest pace since just after Russia invaded Ukraine in 2022, but momentum has since slowed significantly as the price of crude, a substitute fuel, cools. Still, May set the stage for a future rally: The main consumers of Australian thermal coal—Japan and South Korea—raised their imports roughly 15% and 40% from April, respectively, and safety inspections in China following a mine accident will likely crimp supply ahead.