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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
 Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more than 60 percent from their peaks in 2022, driven by soft economic activity and lower gas prices, which negatively affected demand for coal in the power sector. This significant drop has been bolstered by robust supply and gradually increasing penetration of renewable electricity. Nonetheless, prices remain well above their 2015-19 average. A sharp decline in prices has already unfolded in 2024, compared to the 2023 average, with further reductions anticipated in 2025 as renewable power generation meets rising electricity demand. Major risks to this outlook include stronger-than-expected growth in China's power output and hydropower shortfalls.
Global consumption hits a record high. In 2023, coal consumption is estimated to have reached a record high, increasing by 120 million tons (1.4 percent) compared to 2022. However, demand growth decelerated due to weak global economic activity, high penetration of renewable electricity, and lower natural gas prices. In the United States and the European Union, demand fell by an estimated 100 million tons each, while it rose by approximately 220 million tons in China and 100 million tons in India. The global demand shift towards Asia persisted in 2023, with China and India currently accounting for 70 percent of total consumption.
Global coal production remains robust. Production is estimated to have increased by about 150 million tons (Mmt) in 2023. In India, output rose by approximately 100 Mmt, while China's production grew by about 50 Mmt, partly due to enhanced safety measures in domestic mines. Conversely, production in the United States and the European Union declined by roughly 50 Mmt and 70 Mmt, respectively. In Australia, production stagnated due to labor shortages and sluggish exports to China, which have not fully recovered after China lifted its ban on Australian imports in January 2023, originally imposed in 2021.
Global trade reaches record highs. In 2023, global coal trade is estimated to have reached a record high, increasing by 100 Mmt. The growth was largely driven by a 150 Mmt rise in Chinese imports, as domestic production could not keep pace with growing consumption. Reflecting these consumption patterns, the Asia Pacific region accounted for approximately 80 percent of global coal imports. In the meantime, the European Union has continued to substitute exports from Russia by increasing trade with several commercial partners including the Australia, Colombia, South Africa and the United States.
Coal prices are expected to decline by 28 percent in 2024 and a further 12 percent in 2025. Upside risks to the coal price outlook includes higher-than-expected growth in China’s consumption and various factors that could lower renewable electricity production, such as low rainfall or light wind conditions. Downside risks include ample supply and weaker-than-expected global growth. The baseline assumption that China’s coal demand peaked in 2023 may be challenged by stronger-than-expected growth in power generation, as seen in 2021, or shortfalls in output from hydropower, as in 2023. Additionally, new coal mines are under development in China, and about 110 GW of coal plants were approved in 2023, indicating that domestic coal consumption could continue to rise. Production data covering 2024Q1 indicate that coal demand in the power sector in China will increase in 2024 unless renewable generation booms over the summer months or demand for electricity decreases.
By Paolo Agnolucci & Kaltrina Temaj
World Bank
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Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
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Showing 51 to 55 news of total 6871 |
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- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
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