# Global coal price volatility and supply constraints

> Developing situation record from CLSTR: https://clstr.news/situations/global-coal-price-volatility-and-supply-constraints
> Updated: 2026-10-18T01:51:25.000Z. Sources: 7. Developments: 2.

Global coal prices have experienced significant volatility and upward trends. In mid-September 2026, prices reached approximately US$148 per tonne, impacting electricity generation costs in Singapore and prompting the Chinese government to urge stable production levels to ensure energy security.

By October 2026, Newcastle benchmark futures rose further to between US$150 and US$154.6 per ton. This surge is attributed to a shift from liquefied natural gas (LNG) to coal as power plants seek cheaper alternatives amid Middle East supply disruptions. Additionally, supply constraints in Indonesia, the world’s largest thermal coal exporter, have contributed to the price increase, with export volumes seeing significant year-on-year declines.

## Timeline

### 2026-10-18: Coal prices hit three-year high amid Middle East conflict and LNG volatility

Global coal prices have hit a three-year high, driven by rising LNG costs and Middle East conflict, as buyers shift to coal for cheaper energy ahead of winter.

3 sources. https://clstr.news/cluster/coal-prices-hit-three-year-high-amid-middle-east-conflict-and-lng-volatility

### 2026-09-18: Coal price surges impact energy costs and supply stability

Rising thermal coal prices are impacting energy costs and security, prompting action in Singapore and calls for increased production from miners in China to stabilize supply.

4 sources. https://clstr.news/cluster/coal-price-surges-impact-energy-costs-and-supply-stability

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Cite as: Global coal price volatility and supply constraints. CLSTR, https://clstr.news/situations/global-coal-price-volatility-and-supply-constraints