What it is
Coal burned to raise steam for generating electricity. It is priced at a handful of ports, of which Newcastle in Australia, Rotterdam in the Netherlands and Richards Bay in South Africa are the best-known reference points.
How it is usually quoted
US dollars per tonne.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
ICE, settled in cash against published port prices; also the Zhengzhou Commodity Exchange in China.
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- Electricity demand, and the weather behind it
- The price of natural gas, the fuel it most often competes with
- Import demand and mining policy in China and India
- Climate policy and the closure of coal-fired power stations
- Rain, rail and port disruptions in exporting regions
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
China and India mine and burn the most. Indonesia and Australia are the largest exporters, followed by Russia, South Africa, Colombia and the United States.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Coal (thermal) is not offered as a GIO4X instrument. This page is general education about a market that exists elsewhere, and nothing on it means that GIO4X quotes, trades or gives access to it.
The commodities GIO4X does list are Brent crude, gold, natural gas, palladium, platinum, silver and WTI crude.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.