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Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices more than doubling since the end of last year.
Traders are now torn between prospects for a continued rally and a pullback on the heels of global efforts toward net-zero emissions.
Based on the most-active contracts traded on ICE, futures for Newcastle coal NCFF23, -1.61%, the Asian-Pacific region benchmark for thermal coal that’s exported from the Newcastle coal terminal in Australia, was at $408.80 on Dec. 6, up 141% from Dec. 31, 2021, according to FactSet data. Coal’s gain this year leads the overall rise among major commodities.
Tight supply due to wet weather in Australia hampering production; strong demand from India, China, and others; and the European energy crisis” all contributed to strength in coal prices, says Will Rhind, founder and CEO of GraniteShares, which runs the GraniteShares Bloomberg Commodity Broad Strategy No K-1COMB +0.38% exchange-traded fund COMB, +0.52%.
Following Russia’s invasion of Ukraine, European countries scrambled to replace Russian energy with alternatives, as Russian natural-gas supplies to Europe were mostly cut off. China has been “extracting record amounts of coal from its own mines as it seeks to insulate itself from the volatility seen in global energy markets,” says Rhind. “Outages from other European energy sources, such as hydro and nuclear plants…exacerbated the situation.”
Overall, “coal remains the largest source of electricity in the world,” he says. It’s the “cheapest to mine, easy to transport, and efficient to burn.”
Coal accounted for about 36.5% of the global power mix in 2021, followed by natural gas with a 22% share, according to Statista. In the U.S., coal accounted for 21.9% of the total 2021 amount of electricity generated at domestic power facilities, while 38.4% was sourced from natural gas, according to the Energy Information Administration.
Global supply of high quality thermal coal has been tight since before the invasion of Ukraine, says Wendy Schallom, coal analyst, analytics, at S&P Global Commodity Insights. The resulting ban on imports of Russian material by the European Union, Japan, and others, and the search for replacement coal, exacerbated the spot coal price rise, she adds.
There has also been a “diversion of coal supply,” originally destined for Asia, moving to Europe to replace the high-quality Russian supplies, says Schallom.
“Fuel switch price signals” had been firmly in favor of hard coal generation since the fourth quarter of 2021, she says, but the recent sharp fall in European gas hub prices means that those price signals reversed in October, with coal-to-gas switching settling in for the first time in more than a year.
If European gas prices recover as expected, fuel switch price signals will reverse again, with gas-to-coal switching likely to soon return, Schallom says. “This will put renewed pressure on German gas and support German hard coal generation.”
Meanwhile, it isn’t surprising that strong use of coal represents a setback in the world’s efforts to meet net-zero emissions by 2050. Developed nations need to entirely eliminate coal plants by 2030, and the rest of the world by 2040, to meet that goal, says GraniteShares’ Rhind. The two largest coal consumers, however —India and China — are investing even more in coal, expanding their power-plant network through the end of the next decade, he says.
Rhind expects global coal demand to remain high, but prices may “moderate” in 2023, especially if there’s a resolution to the Russia-Ukraine war. Supply will remain constrained, but ironically, higher coal prices will almost certainly contribute to increased demand for renewable energy “in order to find cheaper, more environmentally friendly, and independent sources of energy.”
Source: MarketWatch
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Thursday, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
Wednesday, 02 February 22
COAL STORAGE IN CHINA’S POWER PLANTS NEAR RECORD HIGHS - XINHUA
Coal inflows into China’s power plants have picked up, bringing their coal storage to near record highs, the National Development and Reform ...
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- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
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