Coal decreased 28.50 USD/MT or 22.75% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Coal - values, historical data, forecasts and news - updated on March of 2025.

On March 21, 2025, the U.S. Central Appalachian coal price stood at 78 U.S. dollars per short ton. Figures stayed below 80 U.S. dollars for most of 2024 and all of 2025, except for late June and late September 2024. Central Appalachian coal is produced in parts of Eastern Kentucky, Virginia, West Virginia, and Tennessee. In 2023, the annual Central Appalachian coal spot price stood at 73.59 U.S. dollars per metric ton.

Newcastle thermal coal had an average price forecast of 130.80 nominal U.S. dollars per metric ton for 2024, as of June and July 2024. During the period in consideration, the forecast presents a trend of continuous decrease. By the end of 2028, Newcastle thermal coal price is expected to drop to 102.80 nominal U.S. dollars per metric ton. The Newcastle (NEWC) thermal price for coal is the benchmark for seaborne coal contracts within the Asia-Pacific region, which is home to the largest coal producing countries.

The price for one metric ton of Australian thermal coal amounted to an average of 136.10 U.S. dollars in 2024. This was a notable decrease compared to 2022, when the price amounted to over 300 U.S. dollars. 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. Thermal coal/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 2023, global coal consumption increased by some 65.27 exajoules, amounting to roughly 164 exajoules as of 2023. Today, China and India are the two leading coal consumers worldwide, at 91.94 and 21.98 exajoules, respectively. The two most populous countries on the planet thus accounted for over two-thirds of total coal consumption in 2023. 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 2023, however, it has decreased its coal consumption for electricity generation considerably since 2007. 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.

Learn about the factors that influence thermal coal prices and how they fluctuate in response to changes in demand, government regulations, and environmental concerns. Discover the impact of renewable energy, globalization, and geopolitical factors on the pricing of thermal coal. Find out where to access real-time market reports and understand how location and coal specifications affect pricing. Stay informed with reliable and up-to-date information on the latest thermal coal prices.

China Settlement Price: ZCE: Thermal Coal: 4th Month data was reported at 801.400 RMB/Ton in 26 Mar 2025. This stayed constant from the previous number of 801.400 RMB/Ton for 25 Mar 2025. China Settlement Price: ZCE: Thermal Coal: 4th Month data is updated daily, averaging 595.100 RMB/Ton from Sep 2013 (Median) to 26 Mar 2025, with 2794 observations. The data reached an all-time high of 1,732.400 RMB/Ton in 19 Oct 2021 and a record low of 264.400 RMB/Ton in 30 Dec 2015. China Settlement Price: ZCE: Thermal Coal: 4th Month data remains active status in CEIC and is reported by Zhengzhou Commodity Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZB: Zhengzhou Commodity Exchange: Commodity Futures: Settlement Price: Daily.

China Settlement Price: ZCE: Thermal Coal: 2nd Month data was reported at 801.400 RMB/Ton in 20 Mar 2025. This stayed constant from the previous number of 801.400 RMB/Ton for 19 Mar 2025. China Settlement Price: ZCE: Thermal Coal: 2nd Month data is updated daily, averaging 608.700 RMB/Ton from Sep 2013 (Median) to 20 Mar 2025, with 2790 observations. The data reached an all-time high of 2,096.400 RMB/Ton in 19 Oct 2021 and a record low of 286.000 RMB/Ton in 14 Jan 2016. China Settlement Price: ZCE: Thermal Coal: 2nd Month data remains active status in CEIC and is reported by Zhengzhou Commodity Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZB: Zhengzhou Commodity Exchange: Commodity Futures: Settlement Price: Daily.

Colombia Export Price: Coal: Thermal Coal data was reported at 52.030 USD/Ton in 2016. This records a decrease from the previous number of 58.000 USD/Ton for 2015. Colombia Export Price: Coal: Thermal Coal data is updated yearly, averaging 37.840 USD/Ton from Dec 1984 (Median) to 2016, with 33 observations. The data reached an all-time high of 96.770 USD/Ton in 2011 and a record low of 25.290 USD/Ton in 1989. Colombia Export Price: Coal: Thermal Coal data remains active status in CEIC and is reported by Colombian Mining Information System. The data is categorized under Global Database’s Colombia – Table CO.RB029: Coal Price.

Seaborne thermal coal price refers to the cost of thermal coal that is transported by sea or waterways. This article explores the factors affecting the price, including supply and demand dynamics, transportation costs, and macroeconomic conditions. It also discusses the use of price indexes and benchmarks in tracking the price of seaborne thermal coal, as well as recent trends and future outlook. The article highlights the importance of considering geopolitical and economic risks when making coal-related in

Colombia Domestic Price: Thermal Coal: COP data was reported at 127,584.340 COP/Ton in 2015. This records an increase from the previous number of 119,190.240 COP/Ton for 2014. Colombia Domestic Price: Thermal Coal: COP data is updated yearly, averaging 58,881.000 COP/Ton from Dec 1994 (Median) to 2015, with 22 observations. The data reached an all-time high of 127,584.340 COP/Ton in 2015 and a record low of 24,187.000 COP/Ton in 1994. Colombia Domestic Price: Thermal Coal: COP data remains active status in CEIC and is reported by Colombian Mining Information System. The data is categorized under Global Database’s Colombia – Table CO.RB029: Coal Price.

Have timely access to reliable Coal price assessments in Poland:

• Coal (thermal), import spot price, cif, Poland

Each assessment includes Coal price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

Coal price assessments for Poland and up to 32 other countries are part of Intratec Energy Price References. Subscribe and access now current prices of key energy commodities worldwide.

Australia Commodity Price Index: Weights: Other Resources: Thermal Coal data was reported at 9.800 % in Feb 2013. This stayed constant from the previous number of 9.800 % for Jan 2013. Australia Commodity Price Index: Weights: Other Resources: Thermal Coal data is updated monthly, averaging 9.800 % from Feb 2008 (Median) to Feb 2013, with 61 observations. The data reached an all-time high of 11.400 % in Aug 2009 and a record low of 9.800 % in Feb 2013. Australia Commodity Price Index: Weights: Other Resources: Thermal Coal data remains active status in CEIC and is reported by Reserve Bank of Australia. The data is categorized under Global Database’s Australia – Table AU.I050: Commodity Price Index: Weights (Old).

API2 Rotterdam coal futures amounted to 100 U.S. dollars per 1,000 metric tons on March 3, 2025 for contracts with delivery in March 2025. API2 Rotterdam is a Europe-wide coal price benchmark. Import prices for thermal coal became more volatile following the Russia-Ukraine war and European Union sanctions on Russian coal imports. However, since 2024, the AP12 Rotterdam as well as the worldwide coal price index have been comparatively stable.

The steam coal price index is a measure of the price of steam coal in the global market. This article provides an overview of the steam coal price index, its importance in the energy sector, and the commonly used indices such as the Global Coal Newcastle Index (GCNC), Miller Argus Index (MAI), and Richards Bay Index (RB Index). It also highlights the role of these indices in tracking price trends, making investment decisions, and understanding market dynamics in the coal industry.

Have timely access to reliable Coal price assessments in Thailand:

• Coal (thermal), import spot price, cif, Thailand

Each assessment includes Coal price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

Coal price assessments for Thailand and up to 32 other countries are part of Intratec Energy Price References. Subscribe and access now current prices of key energy commodities worldwide.

Colombia Domestic Price: Thermal Coal: USD data was reported at 46.533 USD/Ton in 2015. This records a decrease from the previous number of 59.562 USD/Ton for 2014. Colombia Domestic Price: Thermal Coal: USD data is updated yearly, averaging 27.621 USD/Ton from Dec 1994 (Median) to 2015, with 22 observations. The data reached an all-time high of 60.341 USD/Ton in 2011 and a record low of 13.064 USD/Ton in 2001. Colombia Domestic Price: Thermal Coal: USD data remains active status in CEIC and is reported by Colombian Mining Information System. The data is categorized under Global Database’s Colombia – Table CO.RB029: Coal Price.

Learn about the factors that determine international thermal coal prices, including supply and demand dynamics, global economic conditions, regional market trends, and geopolitical factors. Understand how these prices impact coal mining companies, power generation companies, and the cost of electricity for consumers.

Have timely access to reliable Coal price assessments in Australia:

• Coal (thermal), export spot price, fob, Newcastle

Each assessment includes Coal price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

Coal price assessments for Australia and up to 32 other countries are part of Intratec Energy Price References. Subscribe and access now current prices of key energy commodities worldwide.

Snapshot img

Metallurgical Coal Market Size 2025-2029

The metallurgical coal market size is forecast to increase by USD 99.6 billion at a CAGR of 4.8% between 2024 and 2029.

The market is driven by the increasing demand for steel and the rise in several smart city projects, leading to an increase in consumption of coal. However, the market faces challenges such as volatility in metallurgical coal prices due to supply and demand imbalances. To mitigate this, coal blending and coal characterization through techniques like coal washing, coal property analysis using vitrinite reflectance and petrography, and coal reserve exploration are crucial.
Coal washing enhances coal quality by removing impurities, while coal characterization provides insights into coal's caking index, thermal maturity, and carbonization properties. Fossil carbon's role in the coal industry is significant as it is a critical feedstock in steel manufacturing and carbonization processes. The demand-supply gap in the market necessitates efficient coal production and utilization strategies.

What will be the Size of the Market During the Forecast Period?

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How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Steel making
  Non-steel making


Type

  Hard coking coals
  Semi-soft coking coals
  Pulverized coal injection


End-User

  Construction
  Transportation
  Health Care
  Agriculture
  Others


Geography

  APAC

    China
    India
    Japan


  North America

    Canada
    US


  Europe

    Germany
    UK
    France


  Middle East and Africa

    UAE


  South America

    Brazil

By Application Insights

The steel making segment is estimated to witness significant growth during the forecast period. Metallurgical coal plays a crucial role in the steel industry, serving as the primary feedstock for coke production in steelmaking processes. The BF-BOF (Basic Oxygen Furnace-Blast Furnace) and EAF (Electric Arc Furnace) routes are the two primary methods for producing steel. In the BF-BOF process, large quantities of metallurgical coal are required to produce carbon-rich coke, which is essential for reduction of iron ore and the production of pig iron. In contrast, the EAF process uses scrap metal and requires lower volumes of metallurgical coal for anaerobic heating. While both methods contribute to steel production, the BF-BOF process was the dominant method used in 2020.

Furthermore, the consumption of steel is often used as an economic development indicator, and this growth in steel production highlights the ongoing economic recovery. The various types of metallurgical coal, including anthracite, bituminous coal, sub-bituminous coal, and lignite, are utilized based on their carbon content and caking ability in the steelmaking process.

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The steel making segment was valued at USD 160.30 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 85% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional market trends and drivers that shape the market during the forecast period.

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The market in the Asia-Pacific (APAC) region is projected to expand at a faster pace compared to other regions, driven by the significant demand from the steel industry. Factors such as industrialization and infrastructure growth in developing countries like China and India are fueling the demand for steel, which relies on metallurgical coal as a primary raw material for its production. With the rapid urbanization of cities in Asia, the need for steel is high for infrastructure development. Metallurgical coal, with its high carbon content, is essential for producing carbon-rich coke required for coking processes in steelmaking. In 2023, China, Australia, Indonesia, and India were the leading contributors to the growth of the market in APAC.

Furthermore, the demand for this coal type is particularly high in countries like China, which is the world's largest consumer and importer of metallurgical coal. The primary use of these in APAC is for electricity generation and household heating, as well as anaerobic heating and the production of pig iron from iron ore. The caking ability of metallurgical coal is crucial for its use in the steel industry, ensuring the successful production of high-quality iron and steel products.

Market Dynamics

Metallurgical coal, also known as coking coal, plays a vital role in the steelmak

The global coal price index reached 154 index points in February 2025. This was a decrease compared to the previous month, which also reflected a fall in the overall fuel energy price index. 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.