Coal Prices

Coal Prices September 2024

The coal prices in the United States for Q3 2024 reached 60 USD/MT in September. The region experienced noticeable price increases in Q3 2024. Additionally, seasonal factors, such as higher electricity consumption during the summer, pushed prices upward. Moreover, fluctuations were present, and the overall market trajectory was positive due to strong demand in the energy sector. Furthermore, supply constraints and logistical issues added to the pressure, with coal's cost benefits keeping it a favored energy option.

The price trend for coal in Japan for Q3 2024 settled at 160 USD/MT in September. The market faced minor price increases, particularly in areas like Nagoya. The overall regional sentiment remained subdued, with lower demand and continued supply chain disruptions influencing market trends. Seasonal reductions in energy use and challenges in securing imports added to the downturn, leading to lower price levels compared to the same period last year.

In South Africa, the coal prices for Q3 2024 reached 115 USD/MT in September. The market demonstrated an upward trend, driven by steady demand in the energy and industrial sectors. Additionally, improved logistics supported supply, though occasional disruptions posed challenges. Seasonal factors played a role in price stability, contributing to a consistent rise in market activity. The quarter closed on a higher pricing note, highlighting the resistance of the market amidst various influencing factors.

Coal Prices March 2024

The coal prices in the United States for Q1 2024 reached 45 USD/MT in March. The prices in early 2024 fell due to warmer weather predictions impacting demand. This decline was reinforced by the evolution to renewable power and coal plant retirements, which suppressed coal generation. The United States market also faced a competitive landscape marked by reducing national requirements alongside rising exports. Moreover, strategic pricing adjustments helped maintain competitiveness amidst shifting global energy priorities and renewable adoption.

The price trend for coal in China for Q1 2024 settled at 119 USD/MT in March. The market in the first quarter of 2024 saw prices decline, influenced by warmer weather concluding the improvement in coal logistics and winter season. In addition, the demand was reduced due to increased import supply and the contentment of long-term local agreements. Besides, seasonal temperature increases and the minimized manufacturing activities during Chinese New Year also contributed to this pricing shift, alongside stable coal import trends.

In South Africa, the coal prices for Q1 2024 reached 99 USD/MT in March. The market faced a bearish trend due to weak European and Indian demand, along with growing Indian stockpiles. Moreover, disputes in rail infrastructure and a predictable higher share of renewable power pressed coal costs. Besides, increased temperatures in countries importing further impacted demand, contributing to the declining trend in coal prices despite ongoing supply disruptions.

Coal Prices December 2023

The price of coal in the United States fell in the final month of Q4 2023. This is due to lower coal demand from power plants and more competition from renewable energy sources. Unfortunately, the price collapsed to 40 USD/MT in USA.

The price trend for coal in China declined in the fourth quarter of 2023, owing to the accumulation of surplus product in China and India. Furthermore, growing competition from many nations resulted in price cuts. Along with this, lower demand for coal from downstream power plants contributed to the decline. Moreover, the coal market closed at 128 USD/MT during the closing quarter of 2023.

In Europe, coal prices dropped dramatically, hitting 120 USD/MT in the fourth quarter of 2023. The price drop was influenced by sluggish product demand, low energy prices, and ample storage of European Union (EU) gas.

South Africa's coal prices continued to be high due to strong global market sentiment and increased industrial demand. Furthermore, the adoption of laws that constrained the supply of coal resulted in higher prices. At the conclusion of the fourth quarter of 2023, the market price of coal hit an all-time high of 97 USD/MT.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the coal price trend.

Global Coal Price

The report offers a holistic view of the global coal pricing trends in the form of coal price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of coal, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed coal demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Coal Price

Q3 2024:

In Europe, significant fluctuation in coal prices occurred in Q3 2024, mostly as a result of seasonal energy demand and shifting gas prices. Furthermore, declining coal reserves at major ports helped drive up coal prices due to the high demand for power generation. However, problems in important exporting nations like South Africa and Indonesia led to supply limits. Moreover, the growing imports from nations like the United States, Colombia, and Australia resulted from the European Union's effort to expand power supplies and lessen reliance on Russian coal. Europe persisted in its attempts to transition to renewable energy despite stable demand, resulting in a complicated market environment that struck a compromise between immediate coal usage and long-term carbon reduction objectives.

Q1 2024:

At the beginning of 2024, the market in Europe had a generally stable pricing trend with modest monthly rises, although it was under pressure from various factors. The pricing pressures were caused by a combination of high renewable energy output, decreased gas prices, larger stocks, and anticipated warmer temperatures. Initial price jumps in January were followed by a mid-month reversal as stockpiles increased, temperatures climbed and coal output decreased. Even though there was some power in the energy sector, coal prices were still at six-month lows by February. Ironically, by limiting stocks, sanctions on Russian coal businesses including Mechel and SUEK assisted in supporting costs. The complex structure of European coal pricing was further highlighted by the fact that short sellers concealing locations of the paper market offered short-term price support.

Q4 2023:

At the end of Q4 2023, Europe witnessed a downward trend in coal prices. This is attributed to various factors, including subdued product demand, rising adoption of renewable energy solutions, lower electricity prices, and the full capacity of gas storage in the EU. The excess supply of coal from the United States and lowered purchase dynamics also contributed to the declining market price.

This analysis can be extended to include detailed coal price information for a comprehensive list of countries.

North America Coal Price

Q3 2024:

In North America market coal costs during Q3 2024 saw a number of reasons contributing to the higher trend. A major factor in price increases was the rising demand from the industrial and energy sectors. Production difficulties and logistical hiccups further reduced supply, which increased pricing pressure. The supply was also constrained by geopolitical concerns and sanctions imposed on significant coal-exporting nations. Although there were notable price swings in the United States, the general trend stayed upward. Summertime seasonal demand for power contributed to price increases, and coal's attraction as an affordable energy source persisted. A robust pricing environment and an overall increase in market dynamics were evident at the conclusion of the quarter.

Q1 2024:

In the early quarter of 2024, the market showed a range of price swings driven by several reasons outside of the typical ones in North America. The biggest shifts occurred in the United States, as warmer weather projections reduced demand for coal, causing prices to decline. Coal generation and prices were further impacted by the continuous modulation of renewable power resources and the shutdown of certain coal facilities. Moreover, prices were driven down by a combination of increased exports, declining local demand, and market competition. To stay competitive in the face of international competitors, the United States deliberately modified its pricing strategy. A thorough assessment of changing market circumstances can be seen in the downward trend in coal prices, which was also influenced by the switch to renewable energy sources and decreased demand in the global steel sector.

Q4 2023:

In North America, the coal market witnessed a falling price trend. The declining demand for coal from downstream power generation plants was a major factor for the dip in prices. The increased adoption of renewable energy solutions, like wind and power over coal, also lowered market demand. In addition, the seasonal decrease in demand for coal from the power generation sector further impacted the coal rates.

Specific coal historical data within the United States and Canada can also be provided.

Middle East and Africa Coal Price

Q3 2024:

The Middle East and Africa (MEA) coal price is driven by strong requirements from the energy industry in Q3 2024. Additionally, constant demands from manufacturing areas such as steel manufacture further bolstered this need. Coal availability was strengthened by better rail and transportation systems, although there were still occasional supply issues, including plant closures. Moreover, the biggest price swings occurred in South Africa, which was indicative of a generally uptrending market. Despite interruptions, price resilience was maintained in part by seasonal variations. Besides, the region's strong energy demands and the constant increase in coal prices, the market ended the quarter on a positive note.

Q1 2024:

The Middle East and Africa coal market in early 2024 experienced price variability, particularly in South Africa, where bearish trends dominated. Contributing factors included reduced European and Indian demand and collecting coal stocks in India. Further driving down prices were problems with the rail system and the expected rise in the use of renewable energy. Amid worldwide shifts to greener energy sources and rising temperatures in important import markets, the South African market saw moderate to growing supply and muted demand. Despite a few supply interruptions, importing countries' large stocks-maintained prices' downward trajectory. Significant negative price patterns were seen in the quarter's study, which reflected the all-encompassing effect of these regional and global factors on coal markets.

Q4 2023:

The coal market in the Middle East and Africa (MEA) region showed a positive price trend in Q4 of 2023. The disrupted supply chain and limited product availability due to strikes in coal export facilities were major factors that contributed to the price growth. Moreover, the heightened demand for coal from Europe positively impacted the export of coal. 

In addition to region-wise data, information on coal prices for countries can also be provided.

Asia Pacific Coal Price

Q3 2024:

The Asia Pacific (APAC) coal market saw a price weakening in Q3 of 2024. This difficult situation was exacerbated by reduced energy use, disruptions in the supply chain, and a lack of interest from important importers. Supply restrictions were exacerbated by certain events, including the closure of the plant in Queensland at the Grosvenor coal mine. Moreover, cities like Nagoya in Japan, which was most impacted, witnessed slight price changes. Prices were consistently falling, and the general mood in the area was gloomy. This decline was also impacted by seasonal patterns, which are characterized by lower energy requirements. When contrasted to the same time last year, the market underperformed, highlighting current challenges in keeping prices steady.

Q1 2024:

In the first quarter of 2024, the Asia Pacific coal market saw pricing shaped by multifaceted influences. Along with decreased requirements on the spot market and the fulfillment of long-term supply contracts, China witnessed a notable reduction in prices due to ending colder climate and better coal transport logistics. During the Chinese New Year, the market was further affected by high temperatures and a decline in industrial activity. On the other hand, Indonesia's coal market was constant due to continued demand from Asian nations that rely on coal. Besides, rising national requirements and spurred prices from exporters caused coal prices to increase in Japan. Furthermore, Australia, a vital supplier to Japan, saw price increases as a result of limited Indonesian supply and rising requirements from Northeast Asia.

Q4 2023:

The coal pricing in the Asia Pacific region experienced a sluggish trend in the last quarter of 2023. This is due to heightened safety inspections in coal production facilities in the region and surplus product supply. Moreover, the rising stock of coal at ports and subdued demand led to a further decline in price rates.

This coal price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Coal Price

The analysis of coal prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Coal Price Trend, Market Analysis, and News

IMARC's latest publication, “Coal Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” presents a detailed examination of the coal market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of coal at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed coal price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting coal pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Coal Market Analysis

The global coal market size reached 8.8 Billion Tons in 2023. By 2032, IMARC Group expects the market to reach 17.5 Billion Tons, at a projected CAGR of 7.90% during 2023-2032.

• The burgeoning demand for energy, particularly in developing countries, continues to drive the coal market. Coal is a significant source of power generation due to its abundance and relatively low cost compared to other fossil fuels. According to the International Energy Agency (IEA), the demand for electricity grew by 2.2% in 2023 and is expected to rise at a rate of 3.4% annually by 2026. Also, the coal-fired power generation market is expected to reach 2,737.6 GW by 2032, projecting a growth rate of 2.6%.
• The coal demand is further amplified by its utilization in industries such as steel, cement, and chemicals for energy and as a raw material. The annual growth rate of the cement industry is projected to rise to 5.4% during 2024 and 2032, boosting the use of coal in the near future. At the regional level, the market for cement in North America is anticipated to reach 279.8 million tons by 2032, owing to the demand for construction of skyscrapers, retail stores, and other industrial complexes.
• The coal market share is further being reinforced by the development of clean coal technologies, including carbon capture and storage (CCS), that have the potential to mitigate environmental concerns and support the continued use of coal. According to a study conducted by the IEA, carbon dioxide (CO2) emissions are expected to reduce by 32 GtCO2 below a baseline scenario by 2050 with the accelerated deployment of several low-carbon technologies and efficiency measures. CCS accounts for 20% of this reduction, half of which constitutes CCS at coal-fired power plants. According to IMARC Group, the clean coal technology market is anticipated to reach US$ 5.2 billion by 2032, with a growth rate of 2.9% annually.
• In addition, coal production is showing an upward trajectory as a result of rising investment in coal mining and coal-fired power generation infrastructure. For example, China expanded its coal production in 2023, as construction began on 37 gigawatts (GW) of new coal power capacity while 41 GW of new projects were announced, and 8 GW of previously shelved projects were revived. Also, India expects to roughly double its coal production, reaching 1.5 billion tons by 2030.

Coal News

The report covers the latest developments, updates, and trends impacting the price of coal, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the coal price trend.

Latest developments in the coal industry:

• In August 2023, Whitehaven Coal announced its plans to invest in thermal and coking coal growth and production till 2044. The company is also expected to double its capital expenditure (capex) in the 2023-24 fiscal year.
• In November 2022, NTPC Ltd was awarded a contract for a 1,320 megawatt (MW) thermal power plant in Talcher, Odisha. Following that, the company also concluded contracts for four additional coal-fired power projects over the next three years. The projects will increase energy generation capacity by 4.8 gigatonnes.
• In June 2020, Coal India Limited (CIL) won two international competitive bidding e-tenders of 3 million tons (MTs) each, to source coal from abroad. The bids are for 5,000 GAR (gross as received) quality of thermal grade coal.

Product Description

Coal is a combustible black or brownish-black sedimentary rock created from rock strata known as coal seams. It consists of carbon and varying amounts of additional elements, such as hydrogen, sulfur, oxygen, and nitrogen. Coal is classified into four varieties depending on carbon concentration, including anthracite, bituminous, sub-bituminous, and lignite, each with specific qualities, such as energy content, carbon percentage, and moisture level. 

Coal is used in power generation, steel manufacture, cement making, liquid fuel, and as a carbon source for industrial purposes. It also finds use in the creation of synthetic natural gas, and in the manufacturing of carbon fiber and silicon metal. Coal has various advantages, including its abundance, dependability as an energy source, and its significance in supporting economic development in coal-rich regions.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of coal pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting coal price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The coal price charts ensure our clients remain at the forefront of the industry.