Australian coal exports diverge as metallurgical markets offset thermal weakness

Thermal coal prices in Australia and Indonesia from 2019 to 2025

Australian coal exports are set to follow diverging paths over the outlook period, with thermal coal export earnings forecast to ease from $32 billion in 2024–25 to $27 billion by 2026–27, reflecting softer demand and pricing. In contrast, metallurgical coal exports are expected to remain resilient at around $36–37 billion, underpinned by sustained steelmaking demand and Australia’s role as a […]

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