Coal Hits 23-month High

Coal futures climbed above $150 per ton, reaching their highest level since September 2023 after Australia’s High Court rejected an appeal by Mach Energy Australia over the planned expansion of its coal mine in NSW. The court found that planning authorities had failed to adequately account for emissions generated by customers who burn the mine’s coal. Minerals Council of Australia chief executive Tania Constable said the ruling could significantly undermine investment and send a negative signal to Australia’s trading and investment partners about sovereign risk, potentially putting future supply under pressure. Meanwhile, global coal demand is expected to reach a record this year as gas supplies face disruptions linked to the Iran war. The IEA said in its Coal Mid-Year Update 2026 that higher LNG prices caused by the Strait of Hormuz blockade are encouraging economies such as China, India, Japan, South Korea and parts of Europe to rely more heavily on coal-fired power generation.

Coal increased to 152.20 USD/T, the highest since October 2024. Over the past 4 weeks, Coal gained 1.52%, and in the last 12 months, it increased 43.2%.

Coal increased to 150.00 USD/T, the highest since June 2026. Over the past 4 weeks, Coal gained 1.33%, and in the last 12 months, it increased 41.86%.