Coal is inarguably one of the big winners from the energy flow disruption in the Middle East. Consumption is up strongly as gas becomes hard to come by and expensive to buy. Power supply security has overtaken any emission concerns. Yet it is not only in power generation that coal has regained popularity. Coal is also increasingly being used as feedstock for chemicals, notably fertilizers. Recently released data from China showed that coal production in the world’s top consumer had dipped in the first four months of the year. Imports were…

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