Coal prices slipped toward $103 per ton, touching a one-month low amid data showing China’s coal production fell in September from a year earlier as ongoing output curbs weighed on supply. The country produced 411.51 million metric tons last month, down 1.8% year-on-year but up from 390.5 million tons in August. China’s “anti-involution” campaign targeting coal, steel, and other heavy industries aimed to curb overcapacity and stabilize prices. Despite global efforts to phase down fossil fuels, coal remains a key part of the energy mix, with about 2,500 coal-fired plants still operating worldwide. According to the International Energy Agency, coal accounts for roughly 35% of global electricity generation in 2025, with most new capacity concentrated in 15 countries, led by China, followed by India and the US.
