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Home Latest Energy News By Tsvetana Paraskova - Sep 30, 2026, 5:30 AM CDT China’s benchmark thermal coal prices have jumped for 11 straight weeks, hitting the highest level in three years this week, amid lower domestic production and reduced imports from top coal exporter Indonesia. The spot thermal coal price at Qinhuangdao, the benchmark for Chinese prices, jumped to 986 yuan, or $147 per ton for the week ending Monday, according to data compiled by Bloomberg . Coal prices in the world’s biggest coal consumer, which still relies on the fuel for nearly 50% of its power generation, have rallied by 24% since the middle of July, amid tighter supply and high demand.
China’s spot thermal coal prices have been rising since late spring , when the deadliest mining disaster in 16 years in May prompted authorities to step up safety checks and order suspension of activities in a number of mines in the key coal-producing region of Shanxi. Chinese authorities are not restricting coal power growth in the new five-year energy plan as Beijing doubles down on the fossil fuel as a “bottom-line guarantee” of the electricity system amid rising shares of renewable power. But Chinese output has been trending lower this year from a year earlier, while Indonesia’s thermal coal exports have been crimped by government production quotas and heightened uncertainties about Indonesia’s policy in the coal mining and exporting sectors.
Year to date, China’s imports from Indonesia have dropped by about a fourth, compared to last year’s levels, as the Indonesian government slashed quotas for coal miners and the strong El Niño has reduced rainfall and lowered river water levels, disrupting coal barge movements to export ports. Amid lower domestic output and imports from Indonesia, China’s government earlier this month called on local coal miners to maintain a stable production rate after a jump in spot prices for thermal coal. Chinese authorities are pushing to boost coal production ahead of the winter season, when coal is expected to play a more prominent role in stabilizing power generation.
By Tsvetana Paraskova for Oilprice.com More Top Reads From Oilprice.com JP Morgan, Goldman Diverge on Hormuz Oil Flow Estimates India Boosts Middle East Oil Imports, Cuts Russian Flows Foreign Investors Pull $3.2 Billion From Indian Markets as Oil Rally Returns Join the discussion | Back to homepage Tsvetana Paraskova What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,... More Info Leave a comment EXXON Mobil -0.35 Open 57.81 Trading Vol. 6.96M Previous Vol. 241.7B BUY 57.15 Sell 57.00
