Approximately 95% of international trade in steam coal is concentrated in two areas: Asia-Pacific and Atlantic. Prices on the international market depend on the largest exporters and users of coal. The aim of the article is to characterize the price trends that took place in the international trade of energy coal in the years 2000–2020 and to distinguish price indices which, in the opinion of the authors, currently play an important role in this trade. The analysis of steam coal prices in international markets in 2000–2020 made it possible to highlight five periods of rising prices, four periods of falling prices, and one period of the stabilisation of prices. A detailed analysis of the highlighted periods of steam coal price fluctuations in 2000–2020 made it possible to identify groups of factors that significantly affect the level of prices of the analyzed coal in the long term. International steam coal markets are interlinked despite periodic volatility. A very important factor influencing world steam coal prices is the situation in China as it is the largest producer, user and importer of steam coal. A small change in coal production in China significantly affects the volume of trade on the international market. Therefore, the level of freight prices is an important factor influencing the price level for the customer. FOB Australia prices are also correlated with coal suppliers to the European market and Asia-Pacific market in this paper. The very high correlation coefficients obtained confirm the close relationship between the prices of these coals. For many years, the European market has no longer been a trendsetter in international coal markets but has instead been affected by general trends.

The article analyzes trends in steam coal flows (exports and imports) linked to production and consumption volumes. The analysis carried out in the article took the years from 2000 to 2019 into consideration. Coal is the second most important energy carrier. Its share in the structure of global consumption amounts to 27% and its production has an upward trend despite its decreasing share. The overall global upward trend of steam coal flows was disrupted twice over the period 2000–2019: by the effects of the 2007–2009 global financial crisis and the ongoing uncertainty of the global economy, as well as by the significant slowdown in the economic growth of developing countries (2014–2016). The European Union has seen large decreases in coal consumption over recent years, reflecting an accelerating decarbonization policy. The main area of coal trade is the Asia-Pacific basin. The Atlantic market currently accounts for about 20% of global steam coal trade, with seaborne trade covering about 95%. The volume of world trade (exports, imports) in steam coal is approximately one billion (bn) tons per year. The analysis carried out showed the following trend: decreasing coal exports to economically developed countries (mainly concentrated in Europe) and increasing exports to economies of developing countries, concentrated in the Asian part of the world. International Energy Agency (IE A) projections show that by 2040 the global coal production will fall from 5.6bn tons of coal equivalent (3.9bn tons of oil equivalent in 2019) to 5bn tce (3.5bn toe) at an average annual rate of –1.1%. Steam coal production is expected to decline by 10% to 4bn tce (2.8bn toe). Due to the fact that China is the largest producer, user and importer of steam coal in the world, all economic and political decisions taken by its government have strongly influenced international coal trade for years. For the Asia-Pacific basin alone, the IE A’s long-term forecasts predict an increase in coal-fired power generation over 2019. Forecasts regarding the coal’s share in global demand are not optimistic for many regions of the world (Europe, Africa, the Americas), predicting a significant decline in its demand. Yet, new markets for coal are emerging, especially in Asia and the Mediterranean basin, which may contribute to maintaining at least the current level of coal trade.