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Wednesday, 16 December 20
CHINA TO BOOST DOMESTIC SUPPLY - FITCH
China’s benchmark Qinhuangdao 5,500kcal/kg coal price rose above the government’s upper yellow interval of CNY600/tonne in early October as power consumption recovered and import quota depleted. The government subsequently urged miners in Inner Mongolia to ramp up production in preparation for the winter heating season, Fitch reported.

Inner Mongolia accounts for around one-third of China’s coal supply, but its production fell by 11% yoy in 9M20 amid stringent mining permits and safety checks, Fitch Rating said.
 
Chinese thermal coal imports dropped by 28% qoq and 38% yoy in 3Q20 as buyers ran out of import quota, according to China and India Data Snap shot of Fitch. China’s 10M20 coal imports were equivalent to 93%, 90%, and 84% of the full-year imports in 2017, 2018, and 2019, respectively.

The  volume-based  restriction has prompted Chinese importers to purchase higher-grade  coal, leading to Australian exporters’ share gain in Chinese imports earlier this year.

However, the rising diplomatic tensions between Beijing and Canberra have raised the risk of Chinese bans on Australian coal imports. Domestic production has been stable, up 1.3% yoy and down 0.1% qoq in 3Q20.


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Recent News

Wednesday, 16 December 20
INDONESIAN COAL RECOVERING - FITCH
Commenting on Indonesian coal, Fitch Ratings, the Indonesian 4,200 kcal index has begun to recover, improving to over USD 29 in November compared t ...


Tuesday, 15 December 20
NEWCASTLE PRICES RECOVER - FITCH
Prices for the benchmark Newcastle 6,000 kcal/kg grade coal have rebounded to over USD 70/tonne since late November as major Asian economies ease l ...


Tuesday, 15 December 20
APAC COAL PRICES REBOUND ON IMPROVED DEMAND AND SUPPLY CUTS - FITCH RATINGS
Prices for the benchmark Newcastle 6,000kcal/kg grade coal have rebounded to over USD70/tonne since late November as major Asian economies ease loc ...


Tuesday, 15 December 20
CHINA EXTENDS FULL OPEN GESTURE TO IMPORTED COAL EXCEPT FOR AUSTRALIA - GLOBAL TIMES
Domestic, overseas suppliers will take up share with easier clearance   China's top economic planner on Saturday gave approval to ...


Monday, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...


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