2025.11.2806:51:14UTC+00Coal Slips on Demand Concerns

Coal prices have dropped below $110 per tonne, declining from recent three-month peaks as concerns about long-term demand reemerge. During the COP30 climate conference in Brazil, South Korea formally became a member of the Power Past Coal Alliance—a coalition dedicated to hastening the shutdown of coal-fired power stations. South Korea has unveiled a plan to close all coal-powered facilities by 2040, part of its broader commitment to transition to clean energy. This development has raised alarms among major exporting nations, such as China, the United States, and Australia, which anticipate a significant drop in demand over the coming decades. Nonetheless, China, the world's leading consumer, has indicated its intentions to continue depending on coal-powered energy for many years, with plans to reach peak demand by 2030, thus contradicting earlier indications of a swifter phaseout. This position underscores a persistent reliance on coal within other Asian countries and in parts of Europe, fueled by unpredictable power supply dynamics and the increasing electricity demands of data centers.