A recent report released by the International Energy Agency predicts that global demand for coal will grow by 1.2% this year, reaching a record 8.94 billion tons. The International Energy Agency's report points out that although the blockage of transportation in the Strait of Hormuz did not directly impact coal supply, it has drastically reduced the volume of liquefied natural gas transportation and boosted the price of natural gas. This has prompted some countries with idle coal power production capacity to increase coal-fired power generation. As a result, coal usage in markets such as Europe, Japan, and South Korea was higher than previously anticipated. Furthermore, it is expected that the strong El Niño phenomenon that will occur this year may increase refrigeration demand in India, Vietnam and other countries, reduce hydroelectric power generation, and further support coal consumption. Rising demand is also driving up international coal prices. In August of this year, the average price of 6,000 kilocalories of thermal coal in Newcastle was 131 US dollars per ton, which is about 26% higher than the average price in 2025.

A recent report released by the International Energy Agency predicts that global demand for coal will grow by 1.2% this year, reaching a record 8.94 billion tons. The International Energy Agency's report points out that although the blockage of transportation in the Strait of Hormuz did not directly impact coal supply, it has drastically reduced the volume of liquefied natural gas transportation and boosted the price of natural gas. This has prompted some countries with idle coal power production capacity to increase coal-fired power generation. As a result, coal usage in markets such as Europe, Japan, and South Korea was higher than previously anticipated. Furthermore, it is expected that the strong El Niño phenomenon that will occur this year may increase refrigeration demand in India, Vietnam and other countries, reduce hydroelectric power generation, and further support coal consumption. Rising demand is also driving up international coal prices. In August of this year, the average price of 6,000 kilocalories of thermal coal in Newcastle was 131 US dollars per ton, which is about 26% higher than the average price in 2025.