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Tuesday, 15 December 20
NEWCASTLE PRICES RECOVER - FITCH
Fitch RatingsPrices for the benchmark Newcastle 6,000 kcal/kg grade coal have rebounded to over USD 70/tonne since late November as major Asian economies ease lockdowns and suppliers cut production in 2H20, said Fitch Ratings in its latest report.

The spread between Chinese and seaborne coal prices remained high at over USD 40/tonne for the 5,500 kcal/kg  grade coal as of November, versus the average of USD 30/tonne in 2019, as Chinese buyers run out of import quota towards the year's end. 
 
Fitch further noted said, Australian thermal coal exports declined 6% qoq and 14% yoy in 3Q20 as shipments to China dropped 50% qoq and 52% yoy. The declines were partly offset by growth in shipments to India, up 250% qoq and 96% yoy, suggesting some of the cargoes heading to China were redirected.

Japan and South Korea have set the goal to achieve carbon neutrality by 2050, followed by China’s aim for 2060. Japan, in particular, clarified it is not considering building new nuclear power plants to achieve the goal, pointing to continued investments in renewable energy and weaker coal imports in the long run.


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Recent News

Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...


Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020. The increase is dri ...


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Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
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