The Price of Thermal Coal Has Dropped

  Global thermal coal prices remained somewhat strong in the transactions at the end of 2025, but overall, the price of thermal coal dropped significantly throughout the year.

  On December 31, the price of the Intercontinental Exchange (ICE) Newcastle coal futures contract for the following month settled at $107.5 per ton, an increase of 0.8% compared to the previous trading day.

  In 2025, the price of the product dropped by 14.17% for the entire year, far from reaching the previously expected price level of $120/ton by the end of the year.

  With the growing awareness of environmental protection, coal is becoming less and less popular. The International Energy Agency (IEA) reported that global coal demand is expected to grow by only 0.5% in 2025, reaching 88.5 million tons, which indeed sets a new record high.

  However, future demand will soon reach its peak and is expected to reach its maximum in 2030. With the continued development of new energy sources and the increasing use of renewable energy, they will increasingly replace coal in their role.

  Even in China, the world's largest coal consumer, the peak of coal consumption seems to have arrived before 2030. The International Energy Agency (IEA) predicts that China's coal demand will gradually decline over the next five years.