Thermal coal prices firm as supply tightness offsets uneven demand
January 12, 2026
Lower prices are expected to drive Australia’s thermal coal export earnings lower from record highs. The Newcastle benchmark thermal coal spot price is forecast to decline from an estimated average of US$75 a tonne in 2019 to US$65 a tonne in 2021, as demand softens relative to supply. Source: Office of the Chief Economist, Australia
