New Delhi, Oct. 20 -- Asian thermal coal prices are likely to remain elevated over the next few months as uncertainty over Indonesian supplies and lower Chinese production constrain availability, while gas-to-coal switching in Japan and South Korea supports demand, according to a report by Fitch Ratings.

The rating agency said the tight supply outlook, along with winter restocking, would support prices in the near term, benefiting coal miners through stronger cash flows and improved debt-servicing capacity. However, it cautioned that these gains would not offset longer-term pressure from declining Chinese and Indian import demand and the shift toward cleaner energy sources.

Indonesian coal exports have faced disruptions from uncertainty...