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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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Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
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- Planning Commission, India
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- Eastern Energy - Thailand
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- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
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- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
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- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
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- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Economic Council, Georgia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
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- PTC India Limited - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
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- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
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- Tamil Nadu electricity Board
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- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
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- Xindia Steels Limited - India
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- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
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- CNBM International Corporation - China
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- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
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- Merrill Lynch Commodities Europe
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- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
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- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
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- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
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- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
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- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
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- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
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- Bulk Trading Sa - Switzerland
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- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
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- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
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