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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, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
Friday, 22 October 21
HARD COAL REMAINS AN IMPORTANT FACTOR FOR SECURITY OF SUPPLY - COAL IMPORTERS ASSOCIATION, GERMANY
- Hard coal remains an important factor for security of supply
- Increase of around 35% in hard-coal-fired power generation in the first three ...
Wednesday, 20 October 21
CHINA'S COAL SHORTAGE TO EASE IN COMING MONTHS, INDUSTRY BODY SAYS - REUTERS
China’s coal shortage will likely ease in coming months, with domestic production and imports already showing signs of picking up, a coal ind ...
Wednesday, 20 October 21
CHINA'S RAW COAL OUTPUT DROPS IN SEPTEMBER - XINHUA
China’s raw coal output dropped 0.9 percent year on year to 330 million tonnes last month, data from the National Bureau of Statistics (NBS) ...
Wednesday, 20 October 21
OVER-RELIANCE ON COAL IN OUR POWER MIX HURTING INDIA - LIVEMINT
In spite of the renewables push, coal still accounts for about 50% of India’s installed power capacity. That means a simultaneous demand and ...
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- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
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