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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 the nation’s biggest export, iron ore, appears to have peaked. Markets for thermal coal, used for power generation, are booming around the world as a global recovery from the economic impacts of the COVID-19 pandemic drives up demand for energy.
Metallurgical coal used in steel-making has also touched new highs as supply shortages combine with rebounding industrial activity. Federal government trade data to be released on Thursday reveals an expected 10 per cent rise in resources and energy earnings to hit an all-time high of $349 billion in 2021-22, before falling back to $299 billion in 2022-23.
“The sector has gone from strength to strength and is performing better than it was pre-pandemic,”Federal Resources Minister Keith Pitt said.
Coal producers were hit hard in 2020 as the shock of the pandemic pummelled prices and a diplomatic feud led to China banning Australian coal shipments. The sector has also been under mounting pressure as global warming concerns cause investors to flee, while the United Nations, ahead of an upcoming climate summit in Glasgow, is calling on all countries to commit to phasing out thermal coal between 2030-40.
Although this year’s price rally signifies coal’s enduring near-term demand as an abundant source of energy, the federal Industry Department notes the commodity faces “significant competing forces”.
“Recent revenue surges are likely to run up against longer-term structural issues in the coal market,” it said.
”Investor and policy pressure has grown in recent years, and the global coal-fired power plant construction pipeline has contracted since 2015.”
Still, the share prices of ASX-listed coal miners have been rallying in the past month. Investment bank Morgan Stanley described Whitehaven Coal, whose value has jumped almost 50 per cent since August, as a “cash machine” amid expectations of higher coal prices lasting well into 2022.
Prices for the key steel-making ingredient iron ore, however, have been falling rapidly. China, by far the world’s biggest consumer of the commodity, has been seeking to cut steel mills’ output and tackle carbon emissions for the third straight month. After hitting a record $US230 a tonne in May, iron ore has had its value slashed in half and is now trading below $US110 a tonne, hammering the share prices of the mining giants BHP, Rio Tinto and Fortescue.
UBS analyst Myles Allsop said Chinese steel production had weakened since July as Beijing put pressure on provinces to materially cut energy consumption and intensity to meet targeted emissions cuts of 3 per cent year-on-year. Problems plaguing top Chinese property developer Evergrande had also triggered a slowdown in construction reducing steel demand, he said. Australia’s iron ore exports reached a record $153 billion in 2021 on the back of an aggressive infrastructure building blitz in China and weaker iron ore out put from mines in Brazil, but is forecast to fall by as much as 35 per cent by 2022-23.
Source: The Sydney Morning Herald
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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
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 ...
Wednesday, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
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- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Australian Coal Association
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
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