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Weaker demand for coal set to cool prices in 2025

The imminent closure of the UK’s last coal power plant is a further reminder that thermal coal’s days in Europe are numbered. In Asia, coal will remain a major source of power for many years to come but global demand will still slow as growth in India will not be enough to offset falls in China, the US and EU. With the outlook for supply relatively positive, we forecast coal prices in Asia to fall by the end of 2025.

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