Jakarta, CNBC Indonesia - Remarkable. Coal prices have surged again and set a new record high.

Yesterday, coal prices in the ICE Newcastle market (Australia) reached $144.3/ton. This marks a 1.62% increase compared to the previous day and hits the highest point since late 2008.

Prospects for increased demand continue to drive up the price of this black rock. Economic performance in several major coal-consuming countries is steadily improving.

In Japan, the Reuters Tankan Index in July 2021 stood at 25, up from the previous month's 22. This is the highest since November 2018. The Tankan Index reflects business sentiment in Japan.

In July, export-oriented companies recorded high optimism, including automotive, pharmaceutical, and iron and steel industries. This aligns with the perception of global demand recovery following the COVID-19 pandemic.

Meanwhile, in South Korea, economic recovery is accompanied by increased job creation. In June 2021, the unemployment rate in the Land of the Morning Calm was 3.7%, down from the previous month's 3.8%.

In China, the National Bureau of Statistics announced a second-quarter 2021 economic growth of 7.9% compared to the same period last year (year-on-year/yoy). This is a slowdown from the previous quarter's record 18.3% yoy.

However, this slowdown is understandable as the first quarter of 2021 had a low base. In the first quarter of 2020, China's economy contracted (negative growth) by 6.8%, while in the second quarter of 2020, it already grew positively by 3.2%.

These various data points illustrate that the economies of these three countries are gaining momentum. Economic activity will require energy, especially electricity, and coal remains one of the primary sources of energy for power generation.