“Growth in world coal consumption: What are the numbers in the Czech Republic?”

Author: Vlastimil Vilímek | Prague on 29.04.2024

World coal consumption and its impact on the Czech market.

In 2023, world coal consumption will exceed 8.5 billion tonnes for the first time, an increase of 1.4%.

China, India and Southeast Asia now account for ¾ of global coal consumption, a significant shift from the situation in 1990 when this region accounted for only ¼ of world consumption.

In the Czech Republic, where hard coal and lignite are mined, the market situation is influenced by both domestic production and foreign trade.

 

The value of the coal market has been calculated on the basis of the results of the statistical findings for 2023 published by the Ministry of Industry and Trade of the Czech Republic.

 

To better understand the size of the hard coal market in the Czech Republic, the average hard coal price in 2024 has been used.

 

Coal production and trade in the Czech Republic:

 

Production 2023:

– Coal: 1 245 thousand tonnes

– Lignite: 25 998 thousand tonnes

– Coke: 1 772 thousand tonnes

Imports 2023:

– Hard coal: 3,701 thousand tonnes

– Lignite: 34 thousand tonnes

– Coke: 192 thousand tonnes

Exports 2023:

– Hard coal: 662 thousand tonnes

– Lignite: 667 thousand tonnes

– Coke: 536 thousand tonnes

 

The above figures show that the Czech Republic imported more hard coal than it produced in 2023, but imported only a minimal amount of lignite; Coke was exported in greater quantities than imported.

 

The market value was calculated as the sum of production and imports minus exports.

 

The average price of coal in 2024 on the reference contract is USD 104.62/t or 2,457 CZK/t.

 

Market value=(production+imports-exports)×average coal price 2024:

Coal market value: (1245+3701-662)×2 457 CZK/t = 5 284 023 thousand CZK

 

The current price of hard coal is USD 112.25/t, a decrease of 4.01% compared to the previous price of USD 116.94/t

 

Thank you for reading

Vlastimil V.

Our primary goal is to constantly increase energy savings in the industrial supply sector.

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