Thermal coal futures were at $132.5 per tonne, trading in a tight range since easing from the 18-month high of $146 in late March, tracking the pullback in natural gas prices as markets assessed demand for alternative power sources in major economies. Gas prices eased amid reports that selected UAE liquified natural gas tankers were able to traffic through the Persian Gulf, limiting concerns of shortages since the war began. The increase in LNG this year triggered a reaction in thermal coal prices as utilities relied on coal plants to generate power. While trading off peaks, higher coal demand since the start of the conflict maintained futures 22% higher year-to-date. The switching was done in heavy concentration in Japan and Korea, which are the top consumers of high-grade thermal coal out of Australia. April imports of thermal coal in grew 40% to 5.7 million in Korea and 2.5% to 7.9 million tons in Japan.

Coal fell to 132.05 USD/T on May 21, 2026, down 0.30% from the previous day. Over the past month, Coal's price has fallen 0.56%, but it is still 31.92% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Coal reached an all time high of 457.80 in September of 2022. Coal - data, forecasts, historical chart - was last updated on May 22 of 2026.

Coal fell to 132.05 USD/T on May 21, 2026, down 0.30% from the previous day. Over the past month, Coal's price has fallen 0.56%, but it is still 31.92% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Coal is expected to trade at 133.01 USD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 142.50 in 12 months time.



Price Day Month Year Date
Crude Oil 98.08 1.727 1.79% 2.32% 59.40% May/22
Brent 104.55 1.974 1.92% -0.49% 61.40% May/22
Natural gas 2.95 -0.0725 -2.40% 6.72% -20.93% May/22
Heating Oil 3.94 0.1050 2.74% -1.29% 86.60% May/22
Coal 132.05 -0.40 -0.30% -0.56% 31.92% May/21
TTF Gas 47.93 -1.48 -2.99% 7.92% 31.31% May/22
UK Gas 116.66 -4.1577 -3.44% 6.71% 33.86% May/22
Bitumen 4,443.00 -55.00 -1.22% 8.55% 26.37% May/22
Ethanol 2.02 0 0% 5.21% 11.76% May/21
Uranium 84.70 0.2000 0.24% -2.53% 20.14% May/21
Cobalt 56,290.00 0 0% 0% 67.03% May/21
Lead 2,013.83 5.00 0.25% 2.74% 0.86% May/22
Aluminum 3,642.00 3.95 0.11% 0.62% 47.31% May/22
Tin 53,248.00 -786 -1.45% 5.60% 64.46% May/21
Zinc 3,545.65 24.30 0.69% 2.39% 30.93% May/22
Nickel 18,802.38 47 0.25% 0.15% 20.76% May/22
Palladium 1,365.50 -20.50 -1.48% -8.57% 36.35% May/22


Coal
Coal is one of the most widely used energy sources globally, particularly for electricity generation and industrial processes such as steel production. Despite the growth of renewable energy, coal remains a key component of the global energy mix, and its prices are closely monitored due to their impact on power generation costs and industrial activity. Coal futures are traded on major exchanges, including the Intercontinental Exchange (ICE) and the New York Mercantile Exchange (NYMEX). A widely referenced contract is the Newcastle coal futures contract listed on ICE, which represents 1,000 metric tonnes. On the supply side, China is the largest producer and consumer of coal globally. Other major producers include the United States, India, Australia, Indonesia, Russia, South Africa, Germany, and Poland. Leading exporters include Indonesia, Australia, Russia, United States, Colombia, South Africa, and Kazakhstan. Coal prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
132.05 132.45 457.80 48.40 2008 - 2026 USD/MT Daily

News Stream
Coal Holds at Narrow Range
Thermal coal futures were at $132.5 per tonne, trading in a tight range since easing from the 18-month high of $146 in late March, tracking the pullback in natural gas prices as markets assessed demand for alternative power sources in major economies. Gas prices eased amid reports that selected UAE liquified natural gas tankers were able to traffic through the Persian Gulf, limiting concerns of shortages since the war began. The increase in LNG this year triggered a reaction in thermal coal prices as utilities relied on coal plants to generate power. While trading off peaks, higher coal demand since the start of the conflict maintained futures 22% higher year-to-date. The switching was done in heavy concentration in Japan and Korea, which are the top consumers of high-grade thermal coal out of Australia. April imports of thermal coal in grew 40% to 5.7 million in Korea and 2.5% to 7.9 million tons in Japan.
2026-05-20
Thermal Coal Eases from 1-Month High
Thermal coal futures eased to around $131 per tonne from the one-month peak of $135.6 on May 4th, tracking slight pullback in Asian and European natural gas prices as markets assessed the availability of feedstock for power plants in the respective regions. Natural gas prices came off their peaks after the US and Iran agreed to a ceasefire, despite is fragility. Also, reports indicated that Adnoc has been able to ship some LNG despite the Hormuz blockade. Still, the tightness in global LNG availability maintained thermal coal futures over 20% higher year-to-date. The squeeze in LNG supplies due to the war in Iran for Asia drove major economies to depend on thermal coal for their power generation, lifting the bidding prices for power plant feedstock. The switching was even more drastic for Japan and Korea, which are the top consumers of high-grade thermal coal out of Australia. April imports of thermal coal in grew 40% to 5.7 million in Korea and 2.5% to 7.9 million tons in Japan.
2026-05-11
Coal Falls as Fuel Switching Demand Remains Limited
Coal prices slipped toward $130 per ton and were on track to finish the week lower, as fuel switching by major Asian economies in response to the Middle East-driven energy supply shock proved less aggressive than initially expected. Thermal coal has served as an alternative to liquefied natural gas for power generation, particularly after the effective closure of the Strait of Hormuz disrupted roughly 20% of global LNG supply. However, recent data showed that both Japan and South Korea imported less thermal coal in April compared with March, with volumes also remaining well below the five-year average, indicating that demand has stayed relatively subdued by historical standards. Analysts also noted that the sharpest decline in LNG imports across Asia has come from China, which has reduced overseas purchases and shifted instead toward domestic coal production as well as pipeline and locally sourced natural gas, helping ease pressure on global LNG supply available to other Asian buyers.
2026-05-08