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2025-07-29 13:08:58
[Asian coal prices climb to highest level since February] Asian coal price benchmarks have climbed to a five-month high as continued high temperatures boosted demand for electricity for air conditioning and reduced inventories. Australia's Newcastle thermal coal futures rose to $115.50 a tonne, the highest level for the near-month contract since February this year. Last Friday, coal-fired power generation in Tokyo hit a 10-month high due to higher-than-normal temperatures. Japan is one of the major importers of Australian coal. The rise marks a significant rebound in seaborne coal prices. Despite this, current prices are still about 75% lower than the recent highs set after the outbreak of the Russia-Ukraine conflict in 2022. Goldman Sachs analysts pointed out that East Asia may experience higher-than-normal temperatures in the future, which will pose further upside risks to coal demand.
