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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
 Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more than 60 percent from their peaks in 2022, driven by soft economic activity and lower gas prices, which negatively affected demand for coal in the power sector. This significant drop has been bolstered by robust supply and gradually increasing penetration of renewable electricity. Nonetheless, prices remain well above their 2015-19 average. A sharp decline in prices has already unfolded in 2024, compared to the 2023 average, with further reductions anticipated in 2025 as renewable power generation meets rising electricity demand. Major risks to this outlook include stronger-than-expected growth in China's power output and hydropower shortfalls.
Global consumption hits a record high. In 2023, coal consumption is estimated to have reached a record high, increasing by 120 million tons (1.4 percent) compared to 2022. However, demand growth decelerated due to weak global economic activity, high penetration of renewable electricity, and lower natural gas prices. In the United States and the European Union, demand fell by an estimated 100 million tons each, while it rose by approximately 220 million tons in China and 100 million tons in India. The global demand shift towards Asia persisted in 2023, with China and India currently accounting for 70 percent of total consumption.
Global coal production remains robust. Production is estimated to have increased by about 150 million tons (Mmt) in 2023. In India, output rose by approximately 100 Mmt, while China's production grew by about 50 Mmt, partly due to enhanced safety measures in domestic mines. Conversely, production in the United States and the European Union declined by roughly 50 Mmt and 70 Mmt, respectively. In Australia, production stagnated due to labor shortages and sluggish exports to China, which have not fully recovered after China lifted its ban on Australian imports in January 2023, originally imposed in 2021.
Global trade reaches record highs. In 2023, global coal trade is estimated to have reached a record high, increasing by 100 Mmt. The growth was largely driven by a 150 Mmt rise in Chinese imports, as domestic production could not keep pace with growing consumption. Reflecting these consumption patterns, the Asia Pacific region accounted for approximately 80 percent of global coal imports. In the meantime, the European Union has continued to substitute exports from Russia by increasing trade with several commercial partners including the Australia, Colombia, South Africa and the United States.
Coal prices are expected to decline by 28 percent in 2024 and a further 12 percent in 2025. Upside risks to the coal price outlook includes higher-than-expected growth in China’s consumption and various factors that could lower renewable electricity production, such as low rainfall or light wind conditions. Downside risks include ample supply and weaker-than-expected global growth. The baseline assumption that China’s coal demand peaked in 2023 may be challenged by stronger-than-expected growth in power generation, as seen in 2021, or shortfalls in output from hydropower, as in 2023. Additionally, new coal mines are under development in China, and about 110 GW of coal plants were approved in 2023, indicating that domestic coal consumption could continue to rise. Production data covering 2024Q1 indicate that coal demand in the power sector in China will increase in 2024 unless renewable generation booms over the summer months or demand for electricity decreases.
By Paolo Agnolucci & Kaltrina Temaj
World Bank
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Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
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Showing 51 to 55 news of total 6871 |
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- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Marubeni Corporation - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- The University of Queensland
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