Coal prices held below $110 per ton, hovering near multi week lows after the International Energy Agency projected that global coal demand will weaken toward the end of the decade amid intensifying competition from alternative power sources. In its 2025 annual coal report, the IEA said global coal demand in 2025 is likely to rise by about 0.5% to a record 8.85 billion tonnes, before leveling off in subsequent years and declining toward 2030 as structural shifts in energy usage take hold. These include rapid expansion in renewable energy capacity, growth in nuclear power generation and increased use of liquefied natural gas. China, by far the world’s largest coal consumer, producer and importer, has reiterated its goal of reaching peak coal consumption before 2030. The IEA forecasts that Chinese coal demand will gradually decline over the next five years, reinforcing the longer term downward outlook for the market.
