Colombia sold to the world last year thermal coal, metallurgical coal and coke worth 11.7 billion dollars, thus doubling what was exported during 2021 and achieving a record, thanks to the best prices in the international market.

(Also read: Oil: what is keeping crude oil prices up?)

The figures are from the National Federation of Coal Producers (Fenalcarbón)which indicate that in thermal coal, the second export product, the country operated the 9,500 million dollars with more than 65 million tons.

The union also showed that in crude metallurgical coal, the 15th export product, more than 2 million tons in volume were sold to the world for 456 million dollars, while in coke, the first national export industrial product, 4 million tons were exported. .5 million tons, for more than 1,700 million, which consolidates Colombia as the third world exporter of this essential raw material for the steel and ferroalloys industry.

(You may also be interested in: Fuel production in the country at risk due to blockades in Magdalena Medio)

“The high global demand for Colombian thermal coal allowed exports from the interior to be more competent, causing a shortage of thermal coal for national consumption. Faced with this situation, the Córdoba thermal coals were closed as a good option to respond to internal demand,” said Carlos Cante, executive president of Fenalcarbón.

From the union they hope that this year, depending on the depth of the global Economic Slowdown, a high volatility in the prices of coal and coke, within a range considered medium-high.

«The consumption of thermal coal is forecast to remain at the average demand close to 7,000 million tons, while the growth of world steel production, driven by India and Southeast Asia, as well as an important balance in Mexico and Brazil, will promote the demand for Colombian metallurgical coals and cokes”, they specify.

According to Fenalcarbón, thermal coal reached record prices during 2022, pressured by high demand in the face of different situations such as strong climatic variations in Europe, the shortage of natural gas due to the Ukraine-Russia conflict, and the low response of production. post-pandemic coal miner that will follow a global deficit of more than 10 million tons.