Year-by-year annual average price for metallurgical coal in USD/metric ton, sourced from U.S. Geological Survey / World Bank Commodity Price Data. Hard coking coal, Australia FOB; required for 70%+ of global steel production.
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Metallurgical coal is essential for primary steel production. Despite green steel ambitions, blast furnace-based steelmaking will dominate for decades, making coking coal supply security critical for industrial nations. Demand is driven primarily by Steel production (blast furnace coke production), Foundry iron casting, Carbon electrodes for smelting. Supply is concentrated in China, Australia, Russia, so output disruptions or trade-policy shifts in those countries are the main long-run drivers of Metallurgical Coal prices.
Metallurgical Coal prices fell -7.7% from 2023's $260 per USD/metric ton to $240 per USD/metric ton in 2024.
Metallurgical Coal prices fell -21.2% from 2022's $330 per USD/metric ton to $260 per USD/metric ton in 2023.
Metallurgical Coal prices rose +65.0% from 2021's $200 per USD/metric ton to $330 per USD/metric ton in 2022. That made 2022 the highest annual average in the recorded series.
Metallurgical Coal prices rose +73.9% from 2020's $115 per USD/metric ton to $200 per USD/metric ton in 2021.
Metallurgical Coal prices fell -34.3% from 2019's $175 per USD/metric ton to $115 per USD/metric ton in 2020.
Movement summaries above are calculated directly from the annual averages shown in the table. Critical Minerals HQ does not attribute price moves to specific events except where backed by sourced reporting.
| Year | Average Price (USD/metric ton) | YoY Change |
|---|---|---|
| 2024 | $240 | -7.7% |
| 2023 | $260 | -21.2% |
| 2022 | $330 | +65.0% |
| 2021 | $200 | +73.9% |
| 2020 | $115 | -34.3% |
| 2019 | $175 | -12.5% |
| 2018 | $200 | +5.3% |
| 2017 | $190 | +90.0% |
| 2016 | $100 | +11.1% |
| 2015 | $90 | -33.3% |
| 2014 | $135 | -6.9% |
| 2013 | $145 | -27.5% |
| 2012 | $200 | -28.6% |
| 2011 | $280 | +40.0% |
| 2010 | $200 | +53.8% |
| 2009 | $130 | -56.7% |
| 2008 | $300 | +200.0% |
| 2007 | $100 | -13.0% |
| 2006 | $115 | +4.5% |
| 2005 | $110 | +83.3% |
| 2004 | $60 | +36.4% |
| 2003 | $44 | +4.8% |
| 2002 | $42 | +0.0% |
| 2001 | $42 | +5.0% |
| 2000 | $40 | — |
Source: U.S. Geological Survey / World Bank Commodity Price Data. Hard coking coal, Australia FOB; required for 70%+ of global steel production
The most recent annual average we track is $240 per USD/metric ton for 2024. Live spot prices are shown on the Metallurgical Coal live-price page.
down -7.7% — from $260 per USD/metric ton in 2023 to $240 per USD/metric ton in 2024.
up +37.1% — from $175 per USD/metric ton in 2019 to $240 per USD/metric ton in 2024.
up +77.8% — from $135 per USD/metric ton in 2014 to $240 per USD/metric ton in 2024.
Metallurgical coal is essential for primary steel production. Despite green steel ambitions, blast furnace-based steelmaking will dominate for decades, making coking coal supply security critical for industrial nations. Demand is driven primarily by Steel production (blast furnace coke production), Foundry iron casting, Carbon electrodes for smelting. Supply is concentrated in China, Australia, Russia, so output disruptions or trade-policy shifts in those countries are the main long-run drivers of Metallurgical Coal prices.
The highest annual average metallurgical coal price in our recorded series was $330 per USD/metric ton in 2022.
U.S. Geological Survey / World Bank Commodity Price Data. Hard coking coal, Australia FOB; required for 70%+ of global steel production