The first half of this year has seen a notable downturn in the global export of coking coal , with a substantial 12% decrease in comparison to the corresponding period in the previous year. A majority of the countries involved in exporting this essential industrial product have experienced reductions in their export volumes. This decline has sparked discussions within the industry, raising questions about the factors contributing to this significant shift in trade dynamics.
Global cooking coal export declined in the first half of 2023, with 11.68 million tons sold, down from 13.23 million tons in the same period last year. Despite this, the steel industry's demand for coking coal remained strong, consuming 576 million tons throughout the previous year.
During the initial half of 2023, China maintained its position as the world's leading exporter of coking coal, shipping over 4 million tons of the product. However, this figure marked a marginal 2% decrease in comparison to the same period the previous year. This slight dip in export figures is attributed to various factors, including fluctuations in market demand and evolving economic conditions.
Poland is the second largest exporter of this product and in the first half of this year. Despite facing a modest annual decrease of 3%, Poland has solidified its standing as the world's second largest exporter of coking coal in the first half of this year. It exported 3 million and 510 thousand tons of coke.
Colombia has retained its position as the world's third-largest exporter of coking coal during the initial six months of this year, despite grappling with a significant 23% decrease in exports compared to the same period last year. According to trade data, Colombia exported a total of 1.52 million tons of coking coal during this time.