India coal short-term outlook March 2020: reinvigorated economy pegged back by country lockdown Report

Commodity Market Report 10 April 2020

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Report summary

India’s start to 2020 was positive with electricity generation, cement and sponge iron production, all registering positive growth rates, compared year-on-year basis. However, lockdown announced by the government to control the spread of coronavirus in the country has stalled this growth. At the same time, robust coal production by Coal India Limited in Q1 has resulted in a plenty of coal stocks, both at the power plants as well as the mine sites. With Q2 demand expected to remain weak due to the lockdown; what will it mean for coal imports? We also share our view on the demand downside due to this initial 21-day lockdown.

Record coal production and stock levels, and soft electricity demand to keep a check on domestic spot prices
Power generation and industrial production both showed signs of improvement from November to February before lockdown stalled the growth
Record domestic production in Q1 means lower imports and lower domestic production in Q2

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
Monthly hot metal and steel production
Domestic coal stocks at power plants
Imported coal stocks at power plants
CIL raw coal production
CIL coal despatches
Seaborne thermal imports by origin

What's included

This report contains:

cms_india_short_term_outlook_march_2020.xlsx

XLSX 349.79 KB
India coal short-term outlook March 2020: reinvigorated economy pegged back by country lockdown

PDF 1.32 MB