For the first time in many years, the Russian coal industry is facing a large-scale crisis
06.01.2025
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In 2024, the Russian coal industry faced a large-scale crisis for the first time in many years. Individually, the causes of this crisis do not pose a critical threat to the business of coal companies, but taken together, they have put the industry in an extremely difficult situation, from which there is no way out in sight.
There were no special prerequisites for the crisis. Global coal demand continued to grow in 2024; according to the forecast of the International Energy Agency, it will once again update the historical maximum, reaching 7.25 billion tons. Consumption is also growing in countries that are the largest importers of Russian raw materials - China and India. Coal prices on the world market, although they have fallen, are still significantly higher than the levels of 2017-2021. The average price of thermal coal on the FOB Australia basis during these years was $94/t, and in December 2024, the fuel was traded 36-44% more expensive, at $128-135/t.
