Coal prices have been back in focus over the past few weeks, and to be frank, the move has been hard to miss.
According to Trading Economics, coal finished last week at around US$144 per tonne.
The other thing worth looking at is demand.
Global coal consumption is heading for another record in 2026, despite large amounts of money being spent on renewable energy around the world.
A lot of it comes back to what's happening in global energy markets.
The war in the Middle East has disrupted LNG shipments through the Strait of Hormuz and pushed gas prices higher.
No coal travels through Hormuz, but that hasn't stopped coal from benefiting.
According to the IEA, demand has picked up across China, Japan, South Korea, and parts of Europe.
The IEA now expects global coal consumption to rise 1.2% to a record 8.94 billion tonnes in 2026.
In 2025, coal provided around 34% of global electricity generation.