China is in dire need of coal as millions of homes are cut off from power and factories forced shut

China is desperate for coal following an electricity crisis. 90 per cent of the country’s fuel is mined locally and the country is grappling to increase its output at short notice.

Demand for coal is increasing worldwide as natural gas prices reach record highs, causing coal prices to surge, with European coal reaching a 13-year high.

India’s coal stockpiles have reached dangerously low levels with about half of the country’s plants left with less than a weeks worth of inventories.

It comes as the stock market tumbles being the lowest since May, affected by yesterday’s Senate hearing.