Coal Prices and Forecasts | Provided by Procurement Resource
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Coal is a nonrenewable fossil fuel that is created from the remains of extinct animals after millions of years. It is a sedimentary rock with a dark colour, either black or brownish-black. It is composed of hydrocarbons and carbon and contains energy that is released upon combustion (burning). Electricity is also produced using this procedure.
It developed in the spaces between layers of rock and earth that have been covered by vegetation for countless millions of years.
The coal-producing countries are China, India, Indonesia, the United States, Australia, and Russia.
Key Details About the Coal Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Coal price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Coal price chart, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Coal Price Trend:
Coal is used to create thermal power, which contributes to the creation of electricity.
High temperatures are used to burn powdered coal, further converting the water into steam. High-speed turbines are turned by this steam in a powerful magnetic field. Finally, power is produced after that.
Coal is indirectly utilised in the steel industry to create steel. In this case, coal is cooked in furnaces to create coal coke. Coal coke is then used by manufacturers to process iron ore into iron, which is then used to make steel. Nitric acid, ammonia salts, and fertilisers are produced using ammonia gas, which is typically recovered from coke furnaces.
Coal is used in numerous sectors to make a variety of goods. The cement industry, the paper and aluminium industries, and the chemical and pharmaceutical industries, among others, are some of the well-known businesses that use coal. Chemical industries use coal as a source of a variety of raw materials, including benzene, coal tar, sulphate of ammonia, creosote, etc. Most industries rely mostly on coal as a source of energy.
Key Market Players:
• BHP Group Limited,
• China Shenhua Energy Co. Ltd,
• Anglo-American Plc,
• China Coal Energy Co. Ltd.,
• Arch Coal Inc.,
• Coal India Ltd.,
• Glencore Plc,
• JSC Siberian Coal Energy Co.
News and Events:
- June 2022: In the midst of a boom in coal demand and record-high prices, Glencore fully acquired the Cerrejon thermal coal mine for about USD 588 million.
- November 2022: The majority owner of Stanmore, Golden Energy and Resources Ltd, a Singapore-listed company, agreed to purchase BHP’s 80% stake in BHP Mitsui Coal. BHP Mitsui Coal owns and operates two open-cut metallurgical coal mines in the Bowen Basin.
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Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.
We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team track the prices and production costs of a wide variety of goods and commodities, hence, providing you with the latest and consistent data.
To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth.
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