Monthly Update 2026
Thermal coal futures climbed above $150 per ton, reaching their highest level since September 2023 after Indonesia tightened export controls on commodities, a move expected to delay coal shipments from the country. The decision came amid stronger seasonal demand, with summer heat boosting electricity consumption for air conditioning. Ongoing disruptions linked to the Middle East conflict also continued to support coal prices, as the prolonged closure of the Strait of Hormuz forced Asian and European energy importers to seek alternatives to natural gas supplies from the Persian Gulf. Japan and South Korea, in particular, have increased their consumption of coal since the outbreak of the war. Qatar’s Ras Laffan facility has declared force majeure, removing nearly 10.2 Mtpa of LNG supply to Asia, with the partial shutdown expected to last through late summer.
Coal rose to 135.55 USD/T on May 4, 2026, up 1.23% from the previous day. Over the past month, Coal’s price has fallen 1.70%, but it is still 37.61% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Coal reached an all time high of 457.80 in September of 2022. Coal – data, forecasts, historical chart – was last updated on May 5 of 2026.
Coal prices held above $130 per ton, below the 17-month high of $146.5 reached on March 20, but still up nearly 15% since the war began in late February. The move reflects spillover from higher oil and LNG risk premiums as failed US-Iran peace talks keep key shipping routes uncertain. Asia is leaning on coal for baseload power, with Japan extending coal plant use and South Korea easing curbs, while China boosts domestic coal output and advances coal-to-gas projects to cut import risk. The shift underscores a broader energy-security pivot as gas and oil supply fears persist. Still, any rebound in Middle Eastern energy flows could unwind recent gains, while long-term demand faces pressure from accelerating renewable energy growth and policy transitions worldwide. In corporate news, Anglo American is attracting at least three bidders for its Australian steelmaking coal assets, with Stanmore Resources, Mitsubishi Corporation and PT Buma Internasional Grup among suitors.
Coal is one of the most widely used energy sources globally, particularly for electricity generation and industrial processes such as steel production. Despite the growth of renewable energy, coal remains a key component of the global energy mix, and its prices are closely monitored due to their impact on power generation costs and industrial activity. Coal futures are traded on major exchanges, including the Intercontinental Exchange (ICE) and the New York Mercantile Exchange (NYMEX). A widely referenced contract is the Newcastle coal futures contract listed on ICE, which represents 1,000 metric tonnes. On the supply side, China is the largest producer and consumer of coal globally. Other major producers include the United States, India, Australia, Indonesia, Russia, South Africa, Germany, and Poland. Leading exporters include Indonesia, Australia, Russia, United States, Colombia, South Africa, and Kazakhstan. Coal prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
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