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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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Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
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Showing 101 to 105 news of total 6871 |
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- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
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