Asia’s Coal Appetite Endures as Winter Looms and Supply Tightens

Asia’s Coal Appetite Endures as Winter Looms and Supply Tightens Asian thermal coal prices have surged to a two-year high as power plants stockpile fuel for winter, tightening a market already strained by elevated demand and supply disruptions from China to Indonesia. Coal’s status as the dirtiest fossil fuel has made it a prime target for cuts to output and usage, but those efforts are being thwarted by growing demand linked to energy security. After expecting global consumption to fall this year, the International Energy Agency flipped to forecasting a 1.2% increase to record levels, as the Iran war sent oil and gas prices skyrocketing and raised the power sector’s dependence on coal.