# Ammonium nitrate and Thermal coal

Their prices have moved together.

Source page: https://www.materialinsights.org/links/ammonium-nitrate-and-thermal-coal/

[Ammonium nitrate](https://www.materialinsights.org/chemicals/ammonium_nitrate/) (chemical) and [Thermal coal](https://www.materialinsights.org/energy/thermal_coal/) (energy): 1 relationship.

## How they are linked

### 1. Price link: mining demand

*Cost and price · Strong · Both ways*

Opencast coal and metal mines blast with ammonium nitrate fuel oil mixtures, so mining activity adds demand. Australian coal moves with the proxy at 0.22 monthly and 0.74 yearly, partly through the shared energy cycle.

- **0.22** monthly change correlation
- **0.74** 12-month change correlation
- **0.43** fitted elasticity

Built from the site data on production routes, energy flows, industry value chains, input-output tables and prices.