September 29, 2026 - Coal futures climbed above $145 per ton, rebounding from one-month lows amid tightening global supplies and stronger demand.

Indonesia, the world’s largest exporter of thermal coal, reported that shipments fell 23% year-on-year in August to their lowest level for the month in five years, constrained by government production quotas, policy uncertainty, and shipping disruptions caused by a strong El Niño.

At the same time, global coal demand is on track to reach a record high this year amid gas supply disruptions stemming from the Iran war.

The International Energy Agency said in its Coal Mid-Year Update 2026 that surging LNG prices due to the blockage of the Strait of Hormuz are prompting economies including China, India, Japan, South Korea, and parts of Europe to increase their reliance on coal-fired power generation.