Thermal coal prices 2013-2022

The price for one metric ton of thermal coal amounted to an average of 344.90 U.S. dollars in 2022. This was a notable increase compared to the previous year, when the price amounted to less than half that amount. Thermal coal, also known as steam coal, is used to generate electricity and its properties include a high moisture and low energy content. It is differentiated from coking coal, or metallurgical coal, which is largely used for steel production. Steam coal prices tend to be lower than coking coal prices, as coking coal requires fewer impurities.

Coal consumption: the leading consuming countries

Between 2000 and 2022, global coal consumption increased by some 63 exajoules, amounting to roughly 161.5 exajoules as of 2022. Today, China and India are the two leading coal consumers worldwide, at 88.4 and 20.1 exajoules, respectively. The two most populous countries on the planet thus accounted for over half of total coal consumption in 2022.

The U.S. is a leading coal consumer despite the declining U.S. coal mining industry

The United States was ranked third among the leading coal consuming nations in 2022, however, it has decreased its coal consumption for electricity generation considerably since 2008. This is largely the result of electric utilities switching to cheaper means for energy production such as natural gas and renewables, as well as growing concerns over greenhouse gas emissions. The U.S. coal mining industry has also been on the decline in recent years.