Global monthly coal price index 2022-2024
The global coal price index reached 194.93 index points in October 2024. This was an increase compared to the previous month and also echoes an overall decrease in fuel energy prices. The global coal index expresses trading of Australian and South African coal, as both countries are among the largest exporters of coal worldwide.
How coal profited from the 2022 gas crunch
Throughout 2022, coal prices saw a significant net increase. This was largely due to greater fuel and electricity demand as countries slowly exited more stringent coronavirus restrictions, as well as fallout from the Russia-Ukraine war. As many European countries moved to curtailing gas imports from Russia, coal became the alternative to fill the power supply gap, more than doubling the annual average price index between 2021 and 2022.
Main coal traders and receivers
Although China makes up by far the largest share of worldwide coal production, it is among those countries consuming the majority of its extracted raw materials domestically. In terms of exports, Indonesia, the world's third-largest coal producer, trades more coal than any other country, followed by Australia and Russia. Meanwhile, Japan, South Korea, and Germany are among the leading coal importers, as these countries rely heavily on coal for electricity and heat generation.
