Coal Market Update – July 2022

Energy markets are in a period of extraordinary turbulence as the world contends with the global energy crisis. While oil and natural gas are receiving much of the attention, coal markets are also experiencing significant turmoil, with important implications for many countries where coal remains a key fuel for electricity generation and a range of industrial processes. At the same time, the world’s continued burning of large amounts of coal is heightening climate concerns, as coal is the largest single source of energy-related carbon dioxide (CO₂) emissions. The July 2022 Coal Market Update provides the IEA’s latest analysis of global coal demand, trade and prices, as well as updated forecasts through 2023.

Since the release of the IEA’s annual Coal 2021 report last December, Russia’s invasion of Ukraine has significantly disrupted global energy markets. At the same time, other challenges have impeded some major exporters’ efforts to ramp up production in 2022. Based on preliminary estimates for the first half of 2022, recent trends and economic forecasts, as well as current fuel prices and forward curves, this Coal Market Update provides the IEA’s latest forecasts for coal demand and trade in 2022 and 2023. The report also extensively analyses the recent evolution of coal prices, paying attention to the increasing segmentation of coal markets by region and quality.