Commodity Market Report
Global thermal coal short-term outlook June 2019: Prices reach 2016 lows on muted demand
Report summary
Pricing went back to the future as levels in the Pacific and Atlantic basins reached points not seen since 2016 although Indonesian low rank coal prices hanged tight. Near term high CV oversupply in Pacific although importers are gearing up for the northern summer demand season. Chinese demand stable as coastal units bulk up on domestic supply. Despite import restrictions, traders gambling as a favourable high ash arbitrage exists between domestic Chinese coals and imports. Lacklustre coal demand in Europe intensified by low gas prices and strong non-coal generation.
Table of contents
- China – Inner Mongolia moves to protect against truck overloading
- South Korea – returning coal fleet primed for cooling demand
- Japan – nuclear maintenance season and summer open door for more coal use
- Europe – coal burn faces opposition from multiple fronts
- Chile – earlier than expected phase out of portions of coal fleet announced
- Australia – Carmichael makes next big step
- Indonesia – operator's permit revoked on unclear mining regulations
- Colombia – Cerrejon considering shutting in coal pits on low prices
- Chile – future of Minas Invierno mine bleak
- Norway – sovereign wealth fund tightens thermal coal investment criteria
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