Thermal Coal Outlook Australia

Lower prices are expected to weigh on Australia’s thermal coal export earnings over the next five years. The Newcastle benchmark thermal coal spot price is projected to average US$60–75 a tonne in real terms over the five years to 2025, down on US$76 a tonne in 2019. Seaborne imports are expected to edge down slightly, but the lack of new thermal coal projects in the pipeline should provide some support to prices. Source: Office of the Chief Economist, Australia