Coal prices climbed above $108 per ton at the end of October, reaching a two-month high amid a firm demand outlook, even as weakening imports from major Asian buyers kept sentiment cautious. Data showed that the world’s top four coal importers, China, India, Japan, and South Korea, were all set for lower arrivals in October compared with September. This is due mainly to a rebound in coal prices in recent months, as there is a lag of several weeks between cargo booking and physical delivery. Meanwhile, China signaled it would maintain reliance on coal power for decades, targeting peak demand by 2030 and reversing earlier indications of a faster phaseout. This stance mirrors continued dependence on coal across other Asian economies and in Europe, driven by volatile power supply and rising electricity demand from data centers.

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