Commodity Market Report
Global metallurgical coal short-term outlook January 2020: positive start unsettled by coronavirus
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
We saw an early hike of US$13/t in HCC export spot prices by mid-January, driven by restarted customs clearance, domestic supply shortages and a deal to improve trade relations between the US and China. This upward trajectory in price was likely to continue had it not been for the outbreak of the coronavirus and early reinstatement of Chinese port restrictions. Read the outlook to find out: How the coronavirus has downgraded our pricing outlook, why Chinese port restrictions are back sooner than anticipated, and why we expect supply to tighten
Table of contents
- Chinese supply constraints a dominant force for higher prices
- Indian demand and seaborne supply risks add to price momentum
- Earlier-than-usual Chinese import restrictions put a lid on demand
- Outlook positive, but clouded by Coronavirus
- PCI buyers and sellers move to shore up quarterly system
- Australia: Queensland exports spike in December
- Australia: BHP supply down in 2019, despite a strong final quarter
- Australia: South32’s output impacted by Appin longwall move in Q4
- Australia: Anglo’s 2019 output on the rise
- Australia: Coronado’s Curragh suspends operations following mine incident
- Australia: derailment near Middlemount
- US: supply trimmed further but hopes fall to the return of Chinese business
- 12 more item(s)...
Tables and charts
This report includes the following images and tables:
- Key prices - history and quarterly forecasts (US$/t, nominal)
- Queensland ports: metallurgical coal exports (Mt)
- BMA quarterly production, 100% basis (Mt)
- HCC total cash cost curve CIF for 2020 into China (value in use)
- Proposed infrastructure investments in India
- Global and Chinese crude steel production (Mt)
- Global and Chinese blast furnace hot metal production (Mt)
- Crude steel production – other major producers (Mt)
- Blast furnace hot metal production – other major producers (Mt)
What's included
This report contains:
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