China seeks shorter contracts as 2026 thermal coal talks with Indonesia kick off

China has begun negotiations with Indonesian miners for 2026 thermal coal supply contracts, with market sources noting that Chinese buyers are favoring shorter and more flexible quarterly deals instead of traditional annual agreements.

According to multiple sources, the shift reflects a more cautious procurement strategy among Chinese buyers, who expect coal prices to remain relatively stable next year amid persistent supply abundance in the global market. Initial discussions were had during the Coaltrans conference in Bali in late September, where Chinese buyers reportedly