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Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand fuelled coal buying.
 
The European API2 coal futures contract for 2022 was 6.7% higher at $179.25 a tonne by 1427 GMT, the highest level since 2008.
 
The continued rally in European natural gas prices has incentivised more coal-fired power generation in Europe which is helping to drive up prices, analysts said.
 
European benchmark natural gas prices at the Dutch TTF hub are at all-time highs and some contracts are nearing 100 euros ($116.28) per megawatt hour.
 
“Looking at the European fuel complex, gas has for some time now lost its competitive advantage over coal in the fuel switch. As a consequence, coal use has significantly gone up in northwest Europe,” said Swedish energy consultancy ELS Analysis.
 
Physical thermal coal prices are also at all-time highs. Australian coal cargoes for delivery from the Newcastle terminal in November settled at $230.05 on Friday.
 
In the European physical thermal coal market, cargoes into Amsterdam, Rotterdam and Antwerp (ARA) in November also settled at a record high of $238.50 a tonne on Friday.
 
A cold winter in Asia, followed by a hot summer and stronger economic growth, has also caused Chinese demand to increase significantly, analysts at Commerzbank said.
Source: Reuters


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Tuesday, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...


Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...


Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...


Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter. ...


Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.    Earnings generation should slow down as selling pr ...


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