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Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
 Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions due to thermal coal supply constraints in China.
Chinese regulations further tightening the mine safety requirements implemented earlier this year have reduced thermal coal production in the country despite strong demand driven by the economic recovery. Thermal power generation increased in China in January to July by 13.2% yoy, while non-power coal consumption increased by 7.7% yoy, causing rapid increases in coal prices. Coal inventories have been declining, even though import volumes increased in June and July.
The government has launched some mitigating actions, including re-opening open-pit mines capable of producing 67 million tonnes of coal per year, approving new production capacities and requesting mines increase production volumes. These measures, and seasonally weaker demand in September and October, should help moderate prices from the current high levels; however, we expect average domestic prices for 2021 to be higher than in our previous price deck.
Our increased price assumptions for the Chinese benchmark in 2022 and thereafter reflect structurally tighter supply, lower incentives to invest in new coal mines and an emerging trend of local governments and mining companies closing older coal mines in order to meet carbon-reduction targets. Furthermore, the central government has demonstrated its tolerance of high coal prices, while local governments in coal-producing regions are motivated to keep supply relatively tight.
The stronger domestic prices in China have also affected seaborne prices, despite China’s ban on coal imports from Australia. Trade flows have adjusted as a result, with China now importing more coal from Russia, Indonesia and other countries, with Australia now exporting more to India and Korea. We therefore have increased our 2021–2023 Newcastle 6,000kcal/kg assumptions. We have kept longer-term price assumptions for the Australian benchmark unchanged. We anticipate that pressures to reduce coal power generation in many key markets consuming Australian coal will eventually lessen coal demand and help normalise the seaborne prices.
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Friday, 26 November 21
CHINA FINDS COMPLIANCE PROBLEMS IN COAL PRICE INDEX PROBE - REUTERS
China’s state planner on Wednesday said it had discovered some “noncompliant” behaviour among coal price index providers as it an ...
Thursday, 25 November 21
SE ASIA POWER DEMAND TO RISE AS STATE SUPPORT MITIGATES COVID-19 IMPACT - FITCH RATINGS
Electricity demand in south-east Asia is likely to increase in 2021, following slow growth or contraction in 2020, thanks to state support that has ...
Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to glob ...
Thursday, 25 November 21
CHINA'S COAL PRICE DROPS IN MID-NOVEMBER AMID GOVERNMENT’S SWEEPING MEASURES - GLOBAL TIMES
China’s coal prices have dropped significantly in mid-November compared with the beginning of the month, with the price of coking coal and co ...
Wednesday, 24 November 21
MARKET INSIGHT - INTERMODAL
Inflation is the word that has dominated the meetings of foreign leaders and finance ministers in recent weeks, as rising energy costs, supply chai ...
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- Larsen & Toubro Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
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- European Bulk Services B.V. - Netherlands
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- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
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- MS Steel International - UAE
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
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- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
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- Economic Council, Georgia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
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- Georgia Ports Authority, United States
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
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- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
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- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
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