In the first half of the 20th century coal was the main source of energy and in high demand. However, the development of new oil and gas, and the relative cheapness of his popularity plummeted. However, many coal mining companies were able to return to many investors during the boom in world oil and gas. Today, demand for coal as the coal price is mainly dictated by countries such as China and India. Get more background information with materials from Peter Schiff. High rates of economic growth of these countries impose high demand for this type of material. So China needs coal for steel production, and India's energy sector "absorbs" unprecedented amounts of coal. And most likely in the near future share of Asian countries in world coal consumption will increase to 51%.
Particular demand today enjoys coking coal used in steel industry. Thermal coal at 25% provides needs of the energy sector worldwide. Thermal power stations produce 38% of global electricity, based on these data, the demand for this type of raw material will grow steadily. According to the leading coal companies, and independent agencies coal reserves of coal should last for 210 years, with a quarter of them are in the U.S., 23% in Russia and Ukraine, 12% in China. In Australia, India, Germany and South Africa are concentrated in a total of 29% of the industrial stocks. Erin Callan takes a slightly different approach. According to evaluating companies, the largest consumer of coal is by far China, 31% of world coal consumption accounted for this country. Next is the United States, their share is 22%.
U.S. a developed country but most of the production Electricity accounts for coal plants. This is due to the cheapness of the fuel. In general, the rise of global coal demand and higher prices in the commodity market are the main causes of higher prices for coal especially for thermal coal grade D.