Thermal coal
Coal burned in power stations; it differs from coking coal in purpose and in price.
How to read the number
Demand is set by the weather, by the price of gas as a substitute and by the energy policy of importing countries.
When the metric lies
The economics rest on rail tariffs and freight: delivery makes up a large share of the final price, and a tariff rise wipes out a contract that looked profitable on paper.
Also known as: steam coal