Commodities outlook: coal to remain steady in 2023

Coal prices are forecast to fall, but remain well above the 2015-19 average. Indonesia, the largest coal exporter, will increase exports by 5 percent, in response to prices that are still much higher than historical averages. Coal prices are forecast to fall 42 percent in 2023 and 23 percent in 2024, but remain well above the 2015-19 average. The forecast assumes that high carbon prices in Europe, combined with lower LNG prices and European natural gas prices, will reduce demand for coal. Strong demand from China’s industrial sector is expected to increase exports from Indonesia, Mongolia, and Russia. Australia is […]