Global coal market: what to expect in 2023?

In 2022, world coal trade suffered a major shock following Russia’s invasion of Ukraine. Coal prices reached record highs of over 400 US$/tonne while global hard coal production increased by over 5%. Coal power generation also reached a new high of around 10300 TWh, led by strong growth in India and the EU. As a result, EU coal supply grew by 8.3% to 476 million tonnes with lignite production increasing by 7.1% and coal imports by a massive 18.3% – but none now from Russia.