Metallurgical coal producers find themselves in an unusual position. Prices are languishing near four-year lows, forcing companies such as BHP to suspend operations at mines in Australia, the world’s top exporter. Yet despite the immediate pain, compounded by higher royalties in Queensland and sluggish global steel production, there is a growing sense of medium and long-term optimism across the industry.

The reason lies not in current market weakness but in the trajectory of Asian steel demand and the scarcity of new metallurgical coal supply on the horizon. Australia dominates the global seaborne trade in metallurgical coal, shipping over 150 million tons in 2024, more than half the world’s exports.

China’s recent passing of the Tariff Law signifies a bold move aimed at reinforcing its trade defense mechanisms and asserting its ability to retaliate against perceived unfair treatment by its major trade partners. The law, slated to take effect from December 1, serves as a potent addition to Beijing’s…

China has unveiled an ambitious new blueprint to almost double its “new energy storage” capacity to 180 gigawatts (GW) by 2027, underscoring its determination to dominate the next frontier of clean energy infrastructure. The plan, issued jointly by the National Development and Reform Commission and the National Energy Administration, foresees roughly 250 billion yuan (about $35 billion) in new investment flooding into the sector over the next three years.

This target represents a dramatic acceleration of China’s energy transition buildout. As of June, the country had already deployed 95 GW of new energy storage capacity, most of it based on lithium-ion batteries. That figure dwarfs global competitors: the United States, for instance, had just 26 GW of utility-scale battery storage at the end of 2024 and expects to reach only about 46 GW by the end of 2025.