Commodity Market Report

India coal short-term outlook September 2020: India on path of recovery

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21 October 2020

India coal short-term outlook September 2020: India on path of recovery

Report summary

After reopening of economic activities post lockdown, India is set on the path to recovery, though the pandemic continues. Coal fired generation and steel production has improved considerably during Q3 2020 compared to Q2. With most of the economic activities resumed now, we are optimistic about India’s further recovery. Thermal and metallurgical coal imports are expected to ramp up next year, but we forecast these will be below 2019 levels. We expect stable power and steel demand in Q4 2020, with the government recently announcing some measures to boost demand in the short term. In this report, we look at the outlook for thermal and metallurgical coal in the short term.

Table of contents

  • Domestic spot prices recovering with gradual pick up in demand but remained subdued compared to last year
  • Recovery in thermal coal demand despite continuing pandemic
  • and growth in steel production is driving metallurgical coal demand too.
  • Domestic production recovering albeit stocks levels remain high

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:

  • Document

    India coal markets - short-term outlook data - September 2020.xlsx

    XLSX 344.16 KB

  • Document

    India coal short-term outlook September 2020: India on path of recovery

    PDF 1.19 MB