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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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Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
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- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
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