Global coal prices rise as geopolitical risks lift thermal markets

API2 Rotterdam coal futures chart showing global coal prices at $120.95 per tonne on 24 July 2026

Global coal prices strengthened during the week as geopolitical tensions supported European, South African, Australian and Russian thermal coal markets. However, weak Asian demand, high Chinese inventories and subdued Indian buying continued to limit broader market momentum. Against this mixed backdrop, API2 European coal futures rose to $120.95/t, while South African API4 futures advanced to $109.90/t. Australian 6,000 NAR coal […]

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