Commodity Market Report
Global thermal coal short-term outlook December 2019: Australia producers waiting for smoke to clear
Report summary
Newcastle benchmark prices remain almost flat at mid-US$60/t ahead of the Christmas and new year holiday. A non-traditional agreement for the October annual contract was settled between Glencore and Nippon Steel with price higher than market expected, while a JPU spot tender was rumoured to be awarded with price well below the spot level. Actual impacts of supply disruptions and demand weaknesses both remain uncertain during this winter. Which risk will lead the price trend into the new year?
Table of contents
- India – rising domestic production adding pressure on imports amid weak economy
- Japan – new coal-fired capacity to support demand in 2020
- South Korea – winter curtailment pressuring near-term coal demand
- Europe – low gas prices into 2020 could trigger more coal displacement
- Vietnam – Thailand’s EGAT-invested coal-fired project kicks off construction
- Australia – supply growth challenged by bushfires amid lower corporate guidance
- South Africa – worst blackouts in a decade disrupt mining activities
- Indonesia – production growth continues but exports will decline amid weak prices
- Colombia – Glencore revises down production guidance
- Russia – seasonal logistic disruptions expected
Tables and charts
This report includes 3 images and tables including:
- Power and coal generation are picking up
- Domestic coal production is increasing
- Estimated impact of winter coal curtailment in South Korea
What's included
This report contains:
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