The Conflict in Iran And Its Effects On Coal Prices

 Since the end of February, as geopolitical risks in the Middle East have increased, energy prices, including coal, have continued to rise.

 The research firm BMI reported that Newcastle thermal coal prices increased by 23% between February 27th and March 31rd, closing at $142 per ton.

 As of April 10, the trading price of thermal coal was $139 per ton, and the trading price of coking coal was $235 per ton, both higher than the average prices of $106 per ton for thermal coal and $192 per ton for coking coal in 2025.

 The agency stated that the higher natural gas prices are particularly beneficial to coal exporters as there has been an increase in fuel switching activities from natural gas to coal in key Asian markets. BMI noted that thermal coal is currently benefiting from global energy price volatility, as it can provide baseload power at relatively low costs.