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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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Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
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- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- The University of Queensland
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
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