Global coal producers have started the new year in a state of deep depression and anxiety. For them, China has become a salvation and the only reason for optimism because ensuring record export volumes could only be achieved by lowering coal prices, which have now been significantly decreased over the last several years. Export prices for thermal coal have actually fallen to maintain competitiveness compared to Chinese prices for domestic coal, as the largest producer and importer of coal in the world shapes global markets.
China imported 542.7 million metric tons of coal in 2024, which became a record volume, pushing global coal imports to historic highs.
"Currently for global coal producers, it is very important to maintain competitive prices to keep up with the global markets, especially considering the active actions of the Chinese," noted the analyst.
