Thermal Coal Prices man

Thermal coal prices averaged USD 134.56 per metric ton in March, up 16.0% from February. On 31 March, the commodity traded at USD 142.45 per metric ton, up 23.0% from 27 February.

Australian thermal coal prices increased at the sharpest pace since May 2022—just after Russia’s invasion of Ukraine—in March, hitting a 16-month high. The Iran war has prompted countries, particularly in Asia—which had gotten over 80% of the oil and LNG shipped via the Strait of Hormuz—to temporarily switch to coal. Even in Europe, electricity generation from coal could rise by about a fifth year on year this summer if natural gas prices remain around March levels.