Australia’s thermal coal export earnings are expected to ease from $37 billion in 2023–24 to around $28 billion by 2025–26 as prices fall. Its metallurgical coal export earnings are expected to decline from $61 billion in 2023–24 to $42 billion by 2025–26. Thermal coal markets have been relatively tight: demand from China is greater than expectations, secondary sanctions against Russia are beginning to take effect, and unexpectedly hot weather across several Asian markets has boosted power demand. Metallurgical coal markets have stabilised over the June 2024 quarter as weather related supply disruptions eased. Seaborne metallurgical coal import demand is expected […]
