Commodity Market Report

Global metallurgical coal short-term outlook November 2019 - Prices struggle to regain foothold after fall

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29 November 2019

Global metallurgical coal short-term outlook November 2019 - Prices struggle to regain foothold after fall

Report summary

For metallurgical coal, the pricing peaks of the first half of 2019 are currently out of reach. Prices have struggled to defy the gravitational pull of tightening Chinese import quotas and sluggish demand into India, north Asia and Europe. The advent of January laycan cargoes for sale, and a recent upward trend in steel prices, offered a modest foothold this month. And supply disruption may provide the extra support needed to re-energise the climb.

Table of contents

  • India and north Asia buyers are buying at a slower rate
  • Some evidence that the tide might turn
    • China: Mine accidents raise prospect of production slowdown
    • Australia: Queensland exports drop but year-to-date performance steady
    • Anglo American throttles production
    • Fitzroy deferrs development on the Ironbark No. 1 mine indefinitely
    • Carborough Downs idled after fatality
    • BHP signals coal sector's largest use of automated trucks at Goonyella Riverside
    • Australian governments moves to expedite environmental permits
    • US seaborne exports holding up
    • Contura lowers shipment expectations, and shifts focus to met coal
    • Arch decides to quit longwall at Mountain Laurel sooner than expected
    • Coronado lowers production expectation
    • Corsa also lowers its guidance
    • Warrior Met Coal bucks trend and increases 2019 production estimate
    • Blackhawk Coal exits Chapter 11
    • Railroad strike threatened Canadian coal production, but reached a settlement
    • China struggles to overcome slow infrastructure growth
    • ArcelorMittal appears to call it quits in Italy
    • ArcelorMittal idles Krakow blast furnace, after keeping it alive temporarily
    • India: Steel scrap recycling policy envisaging circular economy in the steel sector
    • US Steel idles one battery at Clairton coke plant

Tables and charts

This report includes 7 images and tables including:

  • Key Prices - history & quarterly forecasts (US$/t nominal)
  • Queensland Ports - Metallurgical exports (Mt)
  • EU blast furnace closures 2019
  • Global and Chinese crude steel production (Mt)
  • Crude steel production - other major producers (Mt)
  • Global and Chinese blast furnace hot metal production (Mt)
  • Blast furnace hot metal production - other major producers (Mt)

What's included

This report contains:

  • Document

    cms_metallurgical_trade_short_term_outlook_november_2019.xls

    XLS 3.29 MB

  • Document

    Global metallurgical coal short-term outlook November 2019 - Prices struggle to regain foothold after fall

    PDF 936.32 KB

  • Document

    Global metallurgical coal short-term outlook November 2019 - Prices struggle to regain foothold after fall

    ZIP 2.80 MB

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