Australia's non-coking coal exports gain momentum in Dec'25 on strong Northeast Asian demand

• Japan's Dec'25 imports rise 33% m-o-m
  
  
• CY'25 exports by Australia drop marginally
  
  

Australia's non-coking coal exports recorded a strong rebound in December 2025, rising 23.5% m-o-m to 21.13 million tonnes (mnt) from 17.11 mnt in November. Y-o-y, shipments increased by 11.4% compared to 18.97 mnt in December 2024, highlighting improved demand across key Asian markets and active restocking.

Net exports in CY'25 stood at 205.33 mnt, a decrease of 1.2% y-o-y compared to 202.84 mnt in CY'24.

Demand led by Northeast Asia

Export growth was largely driven by stronger buying from Northeast Asian consumers. Japan remained the most resilient buyer, with imports rising sharply by 32.7% m-o-m to 7.76 mnt, supported by winter demand and inventory rebuilding. China also recorded a notable increase, with imports up 15.2% m-o-m to 6.71 mnt, reflecting steady power sector demand and opportunistic purchases.

South Korea's imports edged up 2.9% m-o-m to 2 mnt, while Taiwan posted a sharp 42.3% m-o-m rise to 1.85 mnt, indicating renewed restocking activity.

In contrast, Southeast Asian demand remained muted. Vietnam's imports declined 4.4% m-o-m to 0.89 mnt, while Malaysia saw a steeper 22% m-o-m fall to 0.42 mnt, likely due to sufficient inventories and weaker near-term requirement.

Asian imports in CY'25 vs CY'24

Japan was the largest importer at 72.3 mnt in CY'25, a drop of 1.2% y-o-y. China followed with 64.33 mnt, down 4.1% y-o-y. Imports to Taiwan decreased by 3.9% y-o-y at 19.24 mnt.

In contrast, imports to South Korea increased by 19.1% y-o-y at 16.72 mnt. Vietnam imported 12.35 mnt, up 50.9% y-o-y, representing significant growth in demand, while Malaysia imported 6.99 mnt, up 11.2% y-o-y.

Port performance

Australian export terminals reflected the improved shipment trend. Newcastle Port handled 15.47 mnt in December, up 26.7% m-o-m, supported by higher vessel loadings. Abbot Point recorded a 30.7% rise to 2.21 mnt, while Gladstone and Brisbane ports saw increases of 6.1% and 31.8% respectively. Port Kembla's volumes more than doubled to 0.41 mnt.

However, Dalrymple Bay Coal Terminal (DBCT) was an outlier, posting a 14.4% decline to 1.02 mnt.

Outlook

Australian non-coking coal exports are expected to remain firm supported by seasonal demand from Northeast Asia and continued restocking. However, any slowdown in regional power demand, high stock levels, or freight constraints could cap further upside. Overall, export volumes are likely to stay stable in the coming couple of months.