Author: Shivani Patil
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China’s thermal coal imports still lean on Russia – but China Shenhua’s expansion signals bigger shift ahead
Russian thermal coal remains $13/t cheaper than domestic supply Bohai port stocks down 23% y-o-y, signalling tightening availability China’s non-coking or thermal coal market reflects a familiar pattern as of 23 February 2026: imported coal remains competitively priced. Seaborne Newcastle 6,000 kcal coal traded near $116/t FOB, while Richards Bay coal stood around $102-103/t FOB.…