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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, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
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- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
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