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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
COAL
IEA July 2022 coal report highlights: Worldwide coal consumption in 2021 rebounded by 5.8% to 7 947 million tonnes (Mt), according to IEA data.
- Global coal consumption in 2021 rose above 2019 levels, taking it very close to its all-time high.
- Coal use for power generation increased by 7% compared with the year before, reaching 5 350 Mt.
- Coal demand in China, the world’s largest consumer by far, increased by 4.6%, or 185 Mt, in 2021, reaching an all-time high of 4 230 Mt.
- India consumed 1 053 Mt of coal in 2021, a new all-time high and the largest amount consumed in a single year by any country other than China.
- Other significant increases in coal consumption were recorded in the United States (+15%) and the European Union (+14%), driven mainly by gas-to-coal switching in power generation as gas prices rose in the second half.
- In the first half of 2022, global coal consumption was little changed (the IEA estimate a decrease of less than 0.5%) compared with the first half of 2021.
- A switch from gas to coal since the invasion of Ukraine has been balanced out by slower economic growth.
- For 2022 as a whole, the IEA expect global coal demand to increase by 0.7% from 2021 to about 8 billion tonnes.
- Global coal consumption is currently forecast to be little changed in 2023 compared with 2022.
- China’s coal consumption is expected to increase by 1%, or 43 Mt, in 2023.
- In the IEA’s forecast, Indian coal demand grows by 3% to 1 160 Mt in 2023.
- Assuming a higher availability of nuclear power plants in France than in 2022, the IEA forecast a decline of 4% in EU coal demand in 2023.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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