FX.co ★ Coal Surges to 2-Month High

Coal prices climbed toward $140 per ton in late August, reaching a two‑month high as strong global energy demand coincided with ongoing concerns about supply. Coal remains the world’s largest source of power generation, producing nearly 11,000 TWh in 2026, and accelerating electricity consumption is slowing efforts to replace it with renewable energy. The IEA also expects coal to remain the largest single source of power generation through 2030, with no individual alternative poised to supplant it. The prolonged conflict in the Middle East, which has tightened global LNG supplies and pushed energy prices higher, has further bolstered the outlook for coal demand. At the same time, as many as 45 coal‑fired power plants in India are operating with critically low stockpiles amid surging electricity demand driven by a strong El Niño, while supply has been disrupted by monsoon rains.