Asia thermal coal prices to stay high on supply cuts, firm demand

Fitch Ratings projects elevated Asian thermal coal prices as gas-to-coal switching boosts demand while Chinese and Indonesian supply tightens. Indonesian exports are constrained by government quotas and El Niño-disrupted barge movements, with Chinese prices at three-year highs. The supply-demand imbalance suggests sustained upward pressure on coal prices, affecting energy costs and inflation in the region.

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