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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, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
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- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Agrawal Coal Company - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
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