11.02.202607:11:38UTC+00Coal Slips on Trump Industry Push

Coal prices fell below $115 per ton, hitting a near two-week low after reports that US President Donald Trump plans to boost domestic coal production and expand the use of coal-fired power plants to meet growing electricity demand. Trump is expected to order the Defense Department to purchase power from coal plants to supply military operations and to allocate $175 million for upgrades at six facilities.

At the same time, the China Coal Transportation and Distribution Association lowered its 2026 coal import forecast to 465 million tons, down from 480 million tons projected just three weeks earlier. The association also expects domestic coal output to reach 4.86 billion tons this year, up from last year’s record 4.8 billion tons, and noted that production could climb further if imports drop sharply.

The revised outlook comes after Indonesia moved to restrict thermal coal exports to help stabilize prices, adding another layer of uncertainty to global supply dynamics.