Coal futures soared to $77 per ton in December, a level not seen since July 2019 amid expectations of higher restocking levels and a boost in seasonal demand. Adding additional pressure, the supply in the biggest consumer China is getting tighter. China’s coal imports fell by 15% month over month in November and dropped by 20.8% compared to the same month in 2019 as the country restricted imports from top suppliers Indonesia and Australia. Meanwhile, an accident at a coal mine in southwest China that killed at least 23 workers, the second in the region in two months, is disrupting further local supply.