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Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faster than demand, analysts and traders said.
High inventories in the world’s top coal consumer are capping its appetite for imports, pressuring global prices. The slow recovery in China’s coal consumption also points to a gradual rebound in power consumption and growth in the world’s second-biggest economy.
Analysts forecast China’s coal demand to grow 2% this year on resurgent industry and construction, and to bring extra appetite for imports, especially high-quality Australian coal after China partially eased a ban on imports from there.
However, rising stocks at ports and utilities suggest a faster resumption of output at mines than downstream industries such as steel, cement and chemical, can use, dampening market confidence in the near-term demand outlook.
Spot prices for thermal coal with heating value of 5,500 kilocalories (kcal) at northern Chinese ports plunged to 980 yuan ($142.49) a tonne this week, a level last seen in early February 2022.
Global thermal coal prices also slid, with Australian 5,500 kcal coal falling 10% to about $118 a tonne on the free-on-board (FOB) basis over the past two weeks, while Indonesian 3,800 kcal coal shed 17% to about $67 a tonne.
“Most coal miners have restarted production after the Lunar New Year holiday but downstream sectors are coming back slower with thin demand,” analyst Xiao Lanlan, from Tianfeng Futures, said in a note.
Coal stocks in eight northern ports climbed to 35.96 million tonnes this week, a level last seen in April 2020 when industrial activity halted due to COVID-19, China Coal Transport and Distribution Association (CCTD) data showed.
Reserves at major utilities are also higher than the same time in the past four years, but coal use at the power plants, appears to have climbed to the same level as last year, data showed.
The market for construction materials is also awaiting sustained economic stimulus from the government to underpin the infrastructure and property sectors, analysts and coal traders said.
“We were hoping for a strong rebound in demand along with a rapid economic recovery after the Lunar New Year but it seems the recovery path is much slower than we anticipated,” said a coal purchasing manager at a state utility who declined to be identified as he is not authorised to talk to media.
“The term-supply from domestic coal miners is more than enough for what we need, and I see very little room for imports now.”
Source: Reuters
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Wednesday, 06 July 22
MARKET INSIGHT - INTERMODAL
Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022, there has been a meaningful resurgence of discussions within the ship ...
Tuesday, 05 July 22
WHY ARE VLSFO PRICES SO HIGH, ESPECIALLY IN SINGAPORE? - STEVE CHRISTY, INTEGR8 FUELS
Tightness in products still trumps talks of recession
Last month we wrote about the fears of recession versus the tightness in product markets ...
Tuesday, 05 July 22
ADANI ENTERPRISES LOWEST BIDDER IN COAL INDIA'S IMPORT TENDER: REPORT - BUSINESS STANDARD
Coal India Ltd floated its first import tender on behalf of power companies, where Adani Enterprises Ltd came out to be the lowest bidder, a report ...
Tuesday, 05 July 22
CHINA POLICY KEY FOR IRON ORE OUTLOOK - ING
China’s covid lockdowns and recessionary risks hit iron ore
Iron ore prices have fallen significantly from their year-to-date high of US$ ...
Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
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- GVK Power & Infra Limited - India
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- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
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- Binh Thuan Hamico - Vietnam
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- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
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- Economic Council, Georgia
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- Planning Commission, India
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- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
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- Electricity Authority, New Zealand
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- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
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- New Zealand Coal & Carbon
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- Sarangani Energy Corporation, Philippines
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- Jindal Steel & Power Ltd - India
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- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
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- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
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- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
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- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
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- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
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- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
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- Africa Commodities Group - South Africa
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- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
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- Bukit Baiduri Energy - Indonesia
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- Ministry of Finance - Indonesia
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- Straits Asia Resources Limited - Singapore
- Australian Coal Association
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- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
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- Tamil Nadu electricity Board
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