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Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand fuelled coal buying.
 
The European API2 coal futures contract for 2022 was 6.7% higher at $179.25 a tonne by 1427 GMT, the highest level since 2008.
 
The continued rally in European natural gas prices has incentivised more coal-fired power generation in Europe which is helping to drive up prices, analysts said.
 
European benchmark natural gas prices at the Dutch TTF hub are at all-time highs and some contracts are nearing 100 euros ($116.28) per megawatt hour.
 
“Looking at the European fuel complex, gas has for some time now lost its competitive advantage over coal in the fuel switch. As a consequence, coal use has significantly gone up in northwest Europe,” said Swedish energy consultancy ELS Analysis.
 
Physical thermal coal prices are also at all-time highs. Australian coal cargoes for delivery from the Newcastle terminal in November settled at $230.05 on Friday.
 
In the European physical thermal coal market, cargoes into Amsterdam, Rotterdam and Antwerp (ARA) in November also settled at a record high of $238.50 a tonne on Friday.
 
A cold winter in Asia, followed by a hot summer and stronger economic growth, has also caused Chinese demand to increase significantly, analysts at Commerzbank said.
Source: Reuters


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Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...


Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions   “Energy crisis.” The phrase evokes nearly-forgotten ...


Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.    According ...


Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...


Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.   Mos ...


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