The global energy crunch, the Russia-Ukraine war, and rising gas prices pushed coal prices to exceed $100 per ton earlier this month for the first time in 13 years. Furthermore, with several countries banning Russian coal imports, the supply crunch is pushing prices higher. Earlier this month, the European Union moved to ban coal imports from Russia. So, as demand for electricity and power generation continues to rise, the coal industry should continue witnessing an uptrend in the coming months.
In addition, according to EIA, U.S. coal production is projected to increase by 43 million short tons (MMst) in 2022, and coal exports are also estimated to multiply with ramped-up production. According to AmericaNewsHour, the global clean coal technology market is predicted to grow at a 3.2% CAGR through 2027.
