China's 2026 Thermal Coal Imports: 295 Mt Hinges on Winter Restocking

We retain a range of 285–310 million tonnes (Mt) for China's 2026 seaborne thermal coal imports, with 295 Mt as our conditional central case. Extending October's arrival pace gives 288.96 Mt. Winter restocking could close the 6.04 Mt gap. As at 2 November, the procurement evidence had yet to establish that extra volume. By 30 ...