The International Energy Agency (IEA) report highlighted that global coal demand rose by 1.5% in 2024, reaching a record 8.79 billion tons, driven mainly by China, India, and the United States. Despite this growth being the slowest since the COVID-19 pandemic, cumulative demand since 2020 has exceeded 16%. The report forecasts a slight decline in coal demand and production in 2026 due to weak demand and stockpile accumulation, except for India, which is expected to continue increasing production. Global coal exports exceeded 1.5 billion tons in 2024, but are expected to decline in 2025 and 2026 due to reduced imports by China. Exporting countries like Indonesia, Russia, and Australia will face increasing pressures, although Australia’s performance might improve if its metallurgical coal mines resume activity. Prices have fallen due to increased Chinese supply, with thermal coal prices in the first half of 2025 hitting their lowest levels since 2021, pressuring producers worldwide.