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Met coal in 2019: What did we learn?

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23 January 2020

Met coal in 2019: What did we learn?

Report summary

In mid-2019, met coal prices fell from their lofty position by around US$50/t. Chinese import policies were the main reason, adding tension to the market. The country added tariffs to US coals, lengthened vessel clearance times and tried to hold total imports at or below 2018 levels. Indian imports failed to return after a delayed and extended monsoon. Meanwhile, European demand struggled leading to numerous blast furnace outages. Australian supply proved strong, while the lower prices led to some US contraction.

Table of contents

  • China: Government intervention key to breaking the domestic-seaborne bond on coal prices
  • Australia: Exports underlined their resilience and finish the year strong
  • India: Import demand is more fragile than we thought
  • US: Lower prices cause some adjustments for swing supplier
  • EU: European steel bears the brunt of downturn

Tables and charts

This report includes 7 images and tables including:

  • Metallurgical spot coal prices and floors (US$/t and RMB/t)
  • China 2019 monthly seaborne metallurgical coal imports (Mt)
  • Australian LV HCC price versus Tangshan HRC price ($/t)
  • BMA 2019 quarterly production, 100% basis (Mt)
  • Indian steel mill acquisitions (Mt)
  • Indian 2018/19 metallurgical coal imports (Mt)
  • US 2019 metallurgical coal exports (Mt)

What's included

This report contains:

  • Document

    Met coal in 2019: What did we learn?

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