MYSTEEL: Abundant supply, demand shifts to hit China thermal coal prices in '25

China's spot market for thermal coal will likely experience modest price declines next year, undermined by steady domestic supply, robust import volumes, and a dim demand outlook characterized by an expanding renewable energy footprint, Mysteel suggests in its annual report for the commodity.

A high-inventory strategy implemented across the supply chain will likely continue next year, as it has proved effective in curbing volatility, the report notes. Throughout 2024, spot thermal coal prices at northern China transfer ports ranged from Yuan 765/tonne ($104.8/t) to Yuan 940/t FOB with VAT, based on the benchmark