Coal market outlook - Q4 2025 | Sept 2025
Navigate unprecedented shifts in thermal and metallurgical coal markets driven by China's demand collapse, renewable energy expansion, and evolving Asian trade flows.
The coal market is being redrawn in real time
China's renewable capacity has reached a tipping point, displacing thermal coal at unprecedented rates while domestic overproduction crushes import appetite. India's domestic supply push is capping seaborne demand just as blast furnace expansion promises future growth. Russian coal is reshuffling Northeast Asian trade flows, forcing Colombian and Australian suppliers into Atlantic markets and pressuring European prices to production cost floors.
Understanding these interconnected shifts requires more than lagging official statistics. This whitepaper reveals where supply is being displaced, who's securing volumes, and how the balance of power is shifting–backed by Kpler's granular trade flow data and facility-level analysis.
Inside the whitepaper
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