<em id="cbbmjo159"><legend id="jwovqg336"></legend></em><th id="ktrkzo620"></th><font id="zstcxo367"></font>
  • <kbd id="ivcxjd110"><ol id="miijot725"></ol><button id="kuunim515"></button><legend id="eqxylt368"></legend></kbd>
  • <sub id="vqkoal165"><dl id="llaaib504"><u id="iwdqma056"></u></dl><strong id="necmkc491"></strong></sub>

    Asia coal sheds gains on demand concerns

    montel.com Price,  International,  Thermal Coal 2019-09-20 14:19:19

    Asia-Pacific benchmark coal prices have shed most of this week's gains as concerns about waning demand began to reassert themselves against September 16's spike in oil prices.

    Global Coal's Newcastle index last settled at $66.09/t, up 1% in the week through to September 19, though 34% below where it began 2019

    On September 16, the Pacific basin's reference price for high grade (6,000 kcal/kg) Australian coal exports to Asia touched a one-month high of $68.04/t.

    "All energy took a leg up and calmed down a bit this week," said Vivek Dhar, commodities analyst for Australia's Commonwealth Bank in Melbourne.

    Focus was returning to local coal dynamics, Dhar said, as Saudi oil output rapidly normalised after last weekend's attack on infrastructure that temporarily knocked out 5% of global capacity, sending the oil market – a key driver for other commodities – soaring.

    Chinese demand

    China's remaining appetite for coal imports this year was one of the chief concerns now for the regional seaborne market, said Dhar.

    The country's high imports so far this year – spurred by cheaper international prices over domestic supply – were posing a growing problem for government ambitions to limit imports to around last year's volume.

    By the end of August, China had already imported 220 million tonnes of coal relative to last year's total of 281m tonnes.

    "What has happened has definitely irked policymakers in China," said Dhar. "That puts a lot of pressure on coal imports for the end of the year."

    At least two northern ports – Qinzhou and Fangcheng – had already imposed additional customs delays, he said, with a chilling effect on imports likely to gain in the coming months.

    The bank last expected Newcastle coal to average $70/t over the fourth quarter, with "downside risks" if import restrictions intensified.

    Japan's imports slump

    Higher temperatures in southern China continued to keep coal consumption there elevated for the time of year at around 700,000 tonnes per day, or about 14% above last year's level, according to a report by Xinhua news.

    Prices on China's Zhengzhou exchange were relatively flat on the week at 582.80 yuan/t ($82.10/t).

    Japan this week also revealed a sharp drop in thermal coal demand in August, as imports tumbled 20% year on year.

    So far this year Australia's main customer for high value coal has seen its imports trail 2018 volumes by 4%, swelling miners' need to find other markets as production has expanded.

    Newcastle coal stocks fell by roughly 310,000 tonnes to 1.78 million tonnes in the week through to September 15, according to port data. There were nine vessels waiting to take delivery, down from 11 last week.

    (Writing by Tammy Yang  Editing by Jessie Jia)
    For any questions, please contact us by inqury@fwenergy.com or +86-351-7219322.

    Share this article
    Connect with us

    Editors Recommendations

    1 Weekly steel news summary (Oct 8-Oct 12) 2019-10-14

    Nippon Steel to shut typhoon-damaged Kimitsu plant until end-Dec Japan's biggest steelmaker, Nippon Steel Corp., said on October 3 one of the two steelmaking plants at its Kimitsu Steel Works wi

    2 China's natural gas imports rise 7.8% YoY in Sep; zest to grow 2019-10-14

    Chinese customs data showed a solid year-on-year growth of 7.8% in its natural gas imports in September, primarily spurred by China's continued efforts in coal-to-gas/electricity switch for heating sy

    3 China Coal Daily Track (Oct 14) 2019-10-14

    Thermal coal Production area Coal prices kept largely stable late last week in Ordos, Inner Mongolia, with purchases not bad from surrounding power plants. With inventories slightly decreasing

    4 China Sep steel products exports rebound on price edge 2019-10-14

    China's steel products exports in September bounced back 6.5% from the previous month, reversing a 10.1% slip in August, according to customs data released on October 14, since cheaper prices kept att

    5 China Sep coal imports rise 20.49% YoY despite policy concerns 2019-10-14

    China's coal imports registered a 20.49% year-on-year increase from the preceding year, which was 5.59 percentage points faster than the growth last month, official data showed. In

    6 China Sep coal exports jump 34.5% YoY on relaxed output cuts 2019-10-14

    China's coal exports registered a year-on-year jump of 34.46% in September, showed latest customs data, primarily owing to more domestic supplies available amid loosened production curbs compared with

    7 Qinhuangdao spot thermal coal prices edge lower on poor demand 2019-10-14

    It was an inactive end to the last week that drove China's Bohai Rim spot thermal coal market lower, where offers and bids were in a significant spread. At Qinhuangdao as well as other no

    8 China's import thermal coal further gains strength despite policy risk 2019-10-14

    Chinese seaborne import thermal coal – mainly Indonesian and Australian material – further gained strength late last week following days of pickups, despite the fact that China's import policy risks r

    9 China's coal rail transport capacity improves after new train diagram in place 2019-10-14

    China updated its train diagram on October 11, said China State Railway Group late last week, injecting new momentum to its coal transport capacity. According to the new diagram, 160 pass

    10 Weak demand offsets fall in iron ore 2019-10-14

    Steelmakers' margins are due to deteriorate in coming quarters despite a fall in the price of raw material iron ore because steel prices have also slumped, pressured by weak demand.

    Most Read Articles

    1 PetroChina unit strikes high oil, gas flows in deep Tarim well 2019-10-08

    An exploration and production unit of China's state energy giant PetroChina has drilled into high flows of natural gas and condensate in an exploration well in northwestern region Xinjiang, in what co

    2 Indonesian thermal coal prices gain strength from India's supply crunch 2019-10-11

    Indonesian thermal coal prices continued moving upward in China's seaborne import market, boosted by fuel hunger in another major destination India, where a large coal mine was flooded and expected to

    3 China met coke demand dented by weak steel outlook 2019-10-12

    Sentiment started to weaken in China's met coke market, along with a dismal steel outlook stemming from overloading ban in eastern China and lower-than-expected buying appetite from mills nationwide.

    4 China Coal Daily Track (Oct 12) 2019-10-12

    Thermal coal Production area Some miners in Ordos of Inner Mongolia lowered coal prices amid increasing supply and slack demand from portside traders, yet price cuts failed to improve sales. L

    5 Indonesia sets coal reference price at 3-yr low of $64.8/t in Oct 2019-10-08

    Indonesia's Ministry of Energy and Mineral Resources has set its October thermal coal reference price, also known as Harga Batubara Acuan or HBA, at $64.8/t, notching the lowest level since October 20

    6 Chile largest coal mine closure may spur imports from Indonesia 2019-10-10

    Chile is likely to resume imports of sub-bituminous coal from Indonesia, as its largest domestic coal mine is facing risk of closure in the near term, sources reported. Mina Inviern

    7 China thermal coal market regaining momentum after holiday 2019-10-08

    China's thermal coal market seems on track to recover from weeklong National Day holidays ending October 7, fueling hopes that prices of the fossil fuel may embrace a pickup soon. D

    8 China's 5,500 Kcal coal declines on weak buy, yet hopes remain 2019-10-10

    Chinese domestic 5,500 Kcal/kg NAR thermal coal, a major coal grade traded at Bohai Rim ports, lost ground on second trading day after golden week holiday due to lack of buying demand. On

    9 Indonesian coal miners anxious about law enactment impasse 2019-10-10

    Seven Indonesian coal mining companies are facing legal uncertainty as deliberations on the amendment of the 2009 Mining Law were postponed, deterring them from adding investment on their assets.

    10 China spot thermal coal market flat after holiday 2019-10-09

    Participants in Chinese spot thermal coal market were largely sidelined shortly after the National Day holiday ended on October 7, with offers and bids slow to emerge on the first day back to the mark

    Scan to download sxcoal.com mobile APP