Natural gas supply disruption triggers coal "alternative demand" explosion, pushing coal prices to $150 per ton, hitting a new high in over a year.

With the sudden escalation of military conflicts in the Middle East, the global energy supply chain is facing severe challenges, and the price of thermal coal has soared to the highest level in over a year as a result. On Monday, the benchmark Newcastle coal futures prices in Asia surged by about 9.3%, reaching the $150 per ton mark, setting a new record high since November 2024; at the same time, the European market also reacted strongly, with coal prices in Rotterdam rising by approximately 13% to $119.50 per ton on March 2nd, setting a new 52-week high.