Coal market in Russia

Earlier Report Observations

The domestic coal market in Russia began the period at a high volume of 528.4 million tonnes in 2018, supported by stable coking coal production from the Kuznetsk Basin and development plans for the Ulug-Khem basin and the large Elginskoye deposit. However, market volume plummeted to 245.8 million tonnes in 2019, primarily due to a sharp drop in production, and declined further to 210.9 million tonnes in 2020.

From 2021, the market recovered moderately, reaching 234.9 million tonnes and then 260.1 million tonnes in 2022, indicating a gradual rebound in domestic consumption.

In 2023, coal production reached 438 million tonnes with exports of 213 million tonnes, but the industry faced financial losses and a 1% production decline. SUEK launched a new coal enterprise. By 2024, production slightly increased to about 443.5 million tonnes, while exports fell to 196.2 million tonnes due to tariff disputes at the Taman port and China's import duty on Russian coking coal, redirecting trade flows. Low transport infrastructure capacity limited domestic supply growth, and the government introduced a support program for the coal industry.

Production coal in Russia

In kind, 2017-2020, M t

From 2017 to 2020, Russia ranked 6th globally in coal production.

Top producers of coal, 2017-2020

World map of production of coal, 2017-2020

The coal market showed significant volatility during this period. Production reached its lowest point in 2020 at 398.0 million tonnes, which was 9.3% lower than the previous year. The peak occurred in 2018 with 714.4 million tonnes, representing a 1.8-fold difference between the high and low points. The largest decline was recorded in 2019 at 38.6%, while the biggest increase happened in 2018 at 74.3%.

Annual dynamics of production in Russia in kind, 2017-2020, M t

In value, 2017-2020, M $ US

The market displayed an unstable trend throughout these years. Production value hit its lowest in 2020 at 24 227 million US dollars, marking a 27.2% contraction from the year before. The highest value was recorded in 2018 at 59 779 million US dollars, showing a 2.5-fold gap between the extremes. The largest decline occurred in 2019 at 44.3%, and the biggest increase was in 2018 at 99.0%.

Annual dynamics of production in Russia in value, 2017-2020, M $ US

Exports coal from Russia

Exports in kind, M t

After two years of growth, Russia's coal exports declined. In 2020, exports totaled 211.0 million tonnes, a 3.0% drop from the previous year. Over the 2017-2020 period, exports increased by 11%, with a compound annual growth rate of 3.5%. The peak was in 2019 at 217.5 million tonnes, and the largest increase happened in 2018 at 10.6%.

Annual dynamics of product's exports from Russia in kind, 2017-2020, M t

From 2017 to 2020, Russia's coal exports in volume terms were not heavily concentrated. China accounted for 14.9% of exports, South Korea for 13.3%, and Japan for 9.4%, with these three countries together making up just 37.6% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Russia in kind, 2017-2020

Exports in value, M $ US

Russia's coal exports in value terms declined for the second consecutive year. In 2020, exports were valued at 12 847 million US dollars, a 22.1% year-on-year drop. Between 2017 and 2020, exports decreased by 7.7%, equivalent to an annualized rate of 2.7%. The highest value was recorded in 2018 at 17 598 million US dollars, with the largest increase that year at 26.4%.

Annual dynamics of product's exports from Russia in value, 2017-2020, M $ US

The structure of Russia's coal exports in value terms from 2017 to 2020 was diversified. South Korea represented 14.8% of exports, China 14.0%, and Japan 11.1%, with these three countries together accounting for only 39.9% of total flows, and no single country held a clearly dominant position.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Russia in value, 2017-2020

Imports coal to Russia

Imports in kind, M t

Russia's coal imports in volume terms declined for the third year in a row. In 2020, imports stood at 23.9 million tonnes, a 1.3% decrease from the previous year. Between 2017 and 2020, imports fell by 5.5%, equating to an annualized rate of 1.9%.

Annual dynamics of product's imports to Russia in kind, 2017-2020, M t

From 2017 to 2020, Russia's coal imports in volume terms were largely oriented towards Kazakhstan and Ukraine, whose combined share reached 99.8% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Russia in kind, 2017-2020

Imports in value, M $ US

Russia's coal imports in value terms declined for the third consecutive year. In 2020, imports totaled 342 million US dollars, which was 17.9% weaker compared to the previous year. Over the 2017-2020 period, imports decreased by 32.7%, with a compound annual growth rate of 12.3%.

Annual dynamics of product's imports to Russia in value, 2017-2020, M $ US

From 2017 to 2020, Kazakhstan and Ukraine together captured 98.5% of Russia's total coal imports in value terms, with the remaining flows spread thinly across other markets.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Russia in value, 2017-2020