U.S. thermal coal rebounds while seaborne markets lag

Domestic thermal coal demand surged in the first half of 2025, driven by higher natural gas prices, colder weather, and rising power consumption—especially in the commercial and residential sectors. While U.S. coal generation is up over 15% year-on-year, seaborne markets are softening amid oversupply, cost pressures, and trade uncertainties. Regulatory rollbacks under the Trump administration and delayed coal unit retirements […]