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Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel consumed by power generators and heat supplying companies is sourced under medium- and long-term contracts, a recent guideline released by the National Development and Reform Commission, the country’s top economic regulator, stated.
Wei Hanyang, a power market analyst at BloombergNEF, said,”The policy aims to curb the coal price surge, which could otherwise be unaffordable for power plants or lead to higher power tariffs, which are undesirable for the Chinese economy.”
Wei said the guideline has raised the contract requirements for both buyers and sellers of coal compared with the previous instruments.
He said the guideline is conducive to safeguarding the long-term interests of both suppliers and consumers of coal.
The NDRC ordered thermal power suppliers and heat suppliers to sign additional medium- and long-term coal agreements with coal producers based on their existing contracts this year, to ensure their annual coal consumption will be 100 percent covered by these deals.
The medium- and long-term contracts refer to contracts signed by players on both the supply side and the demand side for a period of one year or longer with a clear quantity and price mechanism, the NDRC guideline stated.
Wei said, “Coal companies are likely to be willing to surrender some margins, which is why a renewed contract for coal sales is needed, and now power plants can minimize exposure to any surges in the spot coal price.”
China has been experiencing coal shortages for more than three months with prices remaining at high levels, which place a heavy cost burden on utilities.
China’s coal prices soared to a record high this month and demand has also remained robust with power plants in northern parts of China beginning restocking ahead of the winter heating season.
The NDRC guideline encourages both sellers like coal producers and consumers of coal like power generators and heat suppliers to sign contracts for three years or longer periods. The supply volume of three-year or longer contracts should represent 30 percent of all medium- and long-term contracts, it said.
Last year, China’s coal consumption reached 4.04 billion tons, accounting for 56.8 percent of the total energy consumption.
The coal consumption in the power generating and heat supplying sectors is almost 2.38 billion tons, accounting for 59 percent of the country’s total coal consumption.
A high coal price would lead to a net loss for the electric heating supply enterprises and thus have an impact on the economy and people’s livelihood.
The proportion of coal consumption in China is expected to drop to about 51 percent by 2025, according to a report from the China Electric Power Planning& Engineering Institute.
Source: Ecns.cn
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Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
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 ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
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- Ministry of Finance - Indonesia
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- Trasteel International SA, Italy
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- Sakthi Sugars Limited - India
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- Chamber of Mines of South Africa
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- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
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- Ministry of Transport, Egypt
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- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
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- Banpu Public Company Limited - Thailand
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- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
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- Romanian Commodities Exchange
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- Georgia Ports Authority, United States
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- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
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- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
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- Uttam Galva Steels Limited - India
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- South Luzon Thermal Energy Corporation
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- MS Steel International - UAE
- Attock Cement Pakistan Limited
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- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
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