Cheap Chinese Coal is Making it Difficult to Reduce Consumption

Chinese coal prices are on course to close out 2025 with a whimper rather than a bang, ahead of a critical year in the government’s mission to meet its climate targets.

Even after a couple of sluggish months, coal output is still tracking for another record this year. Prices that briefly nosed above 700 yuan ($98) a ton in August, when air-conditioning demand is usually at its height, have since subsided and are likely to stay stuck until at least the winter.