China bought 490 million tons of coal in 2025, falling 9.6% from the previous year’s record and the first decline since 2022, when the pandemic was at its height. Pricier imports have fallen from favor after continued growth in local output knocked prices to four-year lows, and the country’s breakneck adoption of clean energy eats into demand. A plan to cut coal output in Indonesia, China’s top foreign supplier, is likely to heap more pressure on shipments in 2026.