Global coal prices extend rally as tight supply meets returning Chinese demand

API2 Rotterdam coal futures rise to $146.80 per tonne for November 2026

Global coal prices strengthened further as tight supply, higher gas prices and renewed Chinese interest supported thermal coal markets. European futures reached more than two-year highs, with November API2 rising to $146.80/t, while South African coal also advanced on firm Asian demand and constrained prompt availability. Chinese buyers returned after Golden Week with fresh inquiries, although elevated prices kept demand […]

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