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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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Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
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Showing 101 to 105 news of total 6871 |
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- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
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