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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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Thursday, 04 November 21
FASTER DECARBONISATION: BACK TO BASICS FOR THE MINING INDUSTRY? - WOOD MACKENZIE
To the uninitiated, rugby is a technical and complicated game. As young schoolboys it was all a wee bit confusing and we invariably ended up on the ...
Wednesday, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
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- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
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