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Coal futures touched a four-month high of $245 per tonne, a level not seen since October 2021 and just 25 dollars shy of its record peak, as an international energy crunch and supply woes persisted.

Indonesia has already lifted some of its bans on coal exports. Still, it remains for miners who do not comply with domestic sales requirements due to critically low fuel inventory at domestic power plants.

The shortages come against a backdrop of persistently high global inflation, fuelled by disrupted supply chains and pent-up demand as economies rebound from the coronavirus-induced blow.

Indonesia has already lifted a ban on coal exports, citing improving conditions of coal supply for local power plants.