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Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
 Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions due to thermal coal supply constraints in China.
Chinese regulations further tightening the mine safety requirements implemented earlier this year have reduced thermal coal production in the country despite strong demand driven by the economic recovery. Thermal power generation increased in China in January to July by 13.2% yoy, while non-power coal consumption increased by 7.7% yoy, causing rapid increases in coal prices. Coal inventories have been declining, even though import volumes increased in June and July.
The government has launched some mitigating actions, including re-opening open-pit mines capable of producing 67 million tonnes of coal per year, approving new production capacities and requesting mines increase production volumes. These measures, and seasonally weaker demand in September and October, should help moderate prices from the current high levels; however, we expect average domestic prices for 2021 to be higher than in our previous price deck.
Our increased price assumptions for the Chinese benchmark in 2022 and thereafter reflect structurally tighter supply, lower incentives to invest in new coal mines and an emerging trend of local governments and mining companies closing older coal mines in order to meet carbon-reduction targets. Furthermore, the central government has demonstrated its tolerance of high coal prices, while local governments in coal-producing regions are motivated to keep supply relatively tight.
The stronger domestic prices in China have also affected seaborne prices, despite China’s ban on coal imports from Australia. Trade flows have adjusted as a result, with China now importing more coal from Russia, Indonesia and other countries, with Australia now exporting more to India and Korea. We therefore have increased our 2021–2023 Newcastle 6,000kcal/kg assumptions. We have kept longer-term price assumptions for the Australian benchmark unchanged. We anticipate that pressures to reduce coal power generation in many key markets consuming Australian coal will eventually lessen coal demand and help normalise the seaborne prices.
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Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
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- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Planning Commission, India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Australian Coal Association
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
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