Newcastle coal futures rose to above $340 per tonne, and are more than 120% higher in the last 12 months, as demand outpaces supply. La Niña phenomenon, a pattern of weather in the Pacific Ocean that brings wet weather and flooding to Australia has hit coal production for miners including Glencore, BHP and Anglo American. Australia’s exports of thermal coal are likely to tumble to 13 ml tonnes this year, down from 183 ml tonnes in 2021. Meanwhile, Indonesia’s coal exports are expected to rise but remain below the government’s target. On the demand side, India’s imports of thermal coal surged 14% in the first ten months of 2022 and output by state-run Coal India, which accounts for 80% of domestic output, rose 11.5%. Also, increasing energy security concerns in Europe, exacerbated by a ban on Russian coal, forced the reactivation of coal power plants. Historically, Coal reached an all time high of 457.80 in September of 2022. Coal futures are available for trading in the Intercontinental Exchange and on the New York Mercantile Exchange. The standard GC Newcastle contact listed on ICE weights 1,000 metric tonnes. Coal is the major fuel used for generating electricity worldwide. The biggest producer and consumer of coal is China. Other big producers include: United States, India, Australia, Indonesia, Russia, South Africa, Germany and Poland. The biggest exporters of coal are: Indonesia, Australia, Russia, United States, Colombia, South Africa and Kazakhstan. Coal prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our coal prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.