The price of CFR-based metallurgical coal in China continued to rise during the December quarter, reaching $200/ton in early December. The CFR-based price in China has been driving up prices for Australian premium hard coking coal since July this year. In addition, Chinese safety inspections of coal mines have reduced supply, and demand in India has been high since the monsoon season. Supply and demand are also expected to remain roughly in balance, with stronger Indian imports offset by additional maritime supply.
| Metric | Forecast for 2024 | Forecast for 2025 | Forecast for 2026 | Forecast for 2027 |
| Average price of PHCC (US$/mt) | 242 | 187 | 190 | 196 |
Export volumes revised to reflect mine adjustments
Australia's export volumes remained unchanged at 37 million tonnes in the September quarter. The increase in new projects was offset by lower production at some existing mines due to consistency and maintenance. Export volume expectations were revised down from previous forecasts due to adjustments at the mines, while the forecast for global metallurgical coal
