India coal short-term outlook January 2021: can V-shaped demand recovery be sustained? Report

Commodity Market Report 05 February 2021

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Report summary

India has seen a V-shaped recovery in most of the industrial sectors since H2 2020. Thermal power generation and crude steel production not only improved in H2 versus H1, but also year-on-year. The Union budget announced by the Indian government for fiscal year 2021-22 is expected to provide further upside to demand. With economic momentum building up, both thermal and metallurgical coal demand will be higher in 2021 leading to a recovery in import levels. We expect firm power and steel demand in Q1 2021, with the remainder of the year supported by a strong economic outlook.

Domestic spot prices gained momentum supported by firm seaborne prices
Firm recovery in thermal coal demand
Strong steel demand outlook will drive metallurgical coal demand
Despite higher stocks, domestic coal production recouping

Tables and charts

This report includes 11 images and tables including:

CIL performance in the spot market
CFR India prices of imported coal
Key thermal prices: history/forecast, nominal US$/t

Key met prices: history/ forecast, nominal US$/t
Monthly coal-fired generation
Domestic coal stocks at power plants
Monthly hot metal and steel production
Imported coal stocks at power plants
CIL raw coal production
CIL coal despatches
Seaborne thermal imports by origin

What's included

This report contains:

India coal short-term outlook January 2021: can V-shaped demand recovery be sustained?

PDF 1.20 MB
India Coal Markets Short Term Outlook Data January 2021

XLSX 352.72 KB