Global thermal coal: 5 things to look for in 2023

In this year’s report: 

Benchmark Newcastle prices have remained at all-time highs at the start of the year, despite signs of prices weakening elsewhere. There are major risks to the market in either direction this year. Coal markets remain tightly supplied with scarce capital spend. However, bearish global economic outlooks could threaten coal demand to the downside.  

Will prices retain strength in 2023 or are we headed toward a rapid fall? 

Drawing on insight from the Coal Research Suite, our analysts lay out the top themes to watch in 2023. 

This includes:  

• Russian coal sanctions will entrench  
• End of the Australian coal ban in China: impact on prices 
• And more.  

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