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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 the nation’s biggest export, iron ore, appears to have peaked. Markets for thermal coal, used for power generation, are booming around the world as a global recovery from the economic impacts of the COVID-19 pandemic drives up demand for energy.
Metallurgical coal used in steel-making has also touched new highs as supply shortages combine with rebounding industrial activity. Federal government trade data to be released on Thursday reveals an expected 10 per cent rise in resources and energy earnings to hit an all-time high of $349 billion in 2021-22, before falling back to $299 billion in 2022-23.
“The sector has gone from strength to strength and is performing better than it was pre-pandemic,”Federal Resources Minister Keith Pitt said.
Coal producers were hit hard in 2020 as the shock of the pandemic pummelled prices and a diplomatic feud led to China banning Australian coal shipments. The sector has also been under mounting pressure as global warming concerns cause investors to flee, while the United Nations, ahead of an upcoming climate summit in Glasgow, is calling on all countries to commit to phasing out thermal coal between 2030-40.
Although this year’s price rally signifies coal’s enduring near-term demand as an abundant source of energy, the federal Industry Department notes the commodity faces “significant competing forces”.
“Recent revenue surges are likely to run up against longer-term structural issues in the coal market,” it said.
”Investor and policy pressure has grown in recent years, and the global coal-fired power plant construction pipeline has contracted since 2015.”
Still, the share prices of ASX-listed coal miners have been rallying in the past month. Investment bank Morgan Stanley described Whitehaven Coal, whose value has jumped almost 50 per cent since August, as a “cash machine” amid expectations of higher coal prices lasting well into 2022.
Prices for the key steel-making ingredient iron ore, however, have been falling rapidly. China, by far the world’s biggest consumer of the commodity, has been seeking to cut steel mills’ output and tackle carbon emissions for the third straight month. After hitting a record $US230 a tonne in May, iron ore has had its value slashed in half and is now trading below $US110 a tonne, hammering the share prices of the mining giants BHP, Rio Tinto and Fortescue.
UBS analyst Myles Allsop said Chinese steel production had weakened since July as Beijing put pressure on provinces to materially cut energy consumption and intensity to meet targeted emissions cuts of 3 per cent year-on-year. Problems plaguing top Chinese property developer Evergrande had also triggered a slowdown in construction reducing steel demand, he said. Australia’s iron ore exports reached a record $153 billion in 2021 on the back of an aggressive infrastructure building blitz in China and weaker iron ore out put from mines in Brazil, but is forecast to fall by as much as 35 per cent by 2022-23.
Source: The Sydney Morning Herald
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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
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 ...
Wednesday, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
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- White Energy Company Limited
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Posco Energy - South Korea
- The University of Queensland
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
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