Lifetime Customer Value
Lifetime customer value (LCV) is a measure of the total value that a customer will bring to a business over…
The term “cooking coal” likely refers to coking coal, also known as metallurgical coal. The coking coal industry is a significant part of the global coal market, primarily used in steel production. Coking coal is a grade of coal that has specific properties, making it suitable for producing coke, a key ingredient in the steel manufacturing process.
Coking coal possesses properties such as low ash, sulfur, and phosphorus content, as well as high carbon content and plasticity. When heated in the absence of air (a process called carbonization), it softens, swells, and then solidifies into coke. Coke is a porous, hard substance that efficiently provides the necessary carbon and heat for the reduction of iron ore into molten iron in a blast furnace. The coking coal industry is global in scope, with major reserves found in countries such as Australia, the United States, Canada, Russia, China, and India. Australia is the largest exporter of coking coal, followed by the United States and Canada. China and India are significant consumers of coking coal, largely due to their expansive steel industries.
The coking coal industry faces several challenges, including:
Despite these challenges, the coking coal industry remains essential to steel production. There is ongoing research and development into cleaner steelmaking technologies, such as hydrogen-based processes, which could reduce the industry’s reliance on coking coal in the future.