Coal prices continue to grow amid booming exports

Coal mining in Russian Kuzbass. Photo: Kirill Kukhmar TASS

Prices for coal in Russia are steadily growing amid its massive exports to Asia and European continents, where the demand for coal and other energy sources has significantly increased in recent months.

 

At present suppliers are trying to take advantage of the moment and even export low-energy coal, which is usually shipped to Russian consumers.

 

This year producers have stopped offering discounts, and prices for coal in Russia and some other markets have risen to their highest level since March 2019. This has raised concerns among Russian consumers that prices will continue to rise.

 

In the meantime, representatives of the Russian Ministry of Energy told the domestic newswire RIA Novosti that they do not see the risks of a shortage of coal in the domestic market due to booming exports.

 

According to the ministry, since the beginning of 2021, coal exports have increased by 12.2% compared to the same period in 2020.

 

At the same time, simultaneously with exports, its consumption in the domestic market also increased - by 6.8% compared to the same period last year. Coal production has also increased - since the beginning of the year by 9%, or 11.8 million tons, compared to the same period last year.

By: Eugen Gerden