Commodity Market Report
Metallurgical coal market short-term outlook November 2021
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
It was inevitable that prices would fall eventually, and November was the turning point. Still in doubt is the pace of the decline and the final resting place for prices. Australian PHCC fell by more than US$85/t in the month, but coals imported into China fared worse, losing over US$200/t, after domestic prices collapsed. China, as usual, was the main catalyst when government intervention in both steel and coal sectors brought additional pressure to prices. The onset of La Nina, amidst tight Australian supply, is still causing some consternation among buyers. The supply tightness suggests a gradual decline in prices over coming month, rather than the sharp drop that many participants fear.
Table of contents
- Chinese coal supply turns the market
- Seaborne prices follow China’s lead
- Outlook: Price support withdraws but supply still has plenty to do.
- China: crude steel production continues to fall amid on-going weak demand
- India: high coal prices impacting metallurgical coal demand
- Japan: economic resurgence as Covid cases tank
- Southeast Asia: Indonesia recovering, but Vietnam still feeling Covid effects
- Europe:
- Australia: near-term supply risks
- Australia: Stanmore swings for the fences with BMC pickup
- Australia: M&A activity and mine restarts driven by mid and small-tier players
- Australia: Mining incident at Curragh
- 3 more item(s)...
Tables and charts
This report includes the following images and tables:
- Key prices - history & quarterly forecasts (US$/t nominal)
- Indian PCI imports
- Indian coke imports and exports
- Global and Chinese crude steel production (Mt)
- Global and Chinese blast furnace hot metal production (Mt)
- Crude steel production - ex-China producers (Mt)
- Blast furnace hot metal production - ex-China producers (Mt)
- Rainfall across Queensland met coal mines (19 to 26 November)
- Rainfall by met coal mine (19 – 26 November)
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Impacts of rising commodity prices: North America power and renewables November 2021 short-term outlook
Power markets are surging in 2021 due to significantly stronger fuel prices.
$2,000
Insight
LNG Tool Key Changes - Q1 2025 refresh
A data refresh of LNG demand and LNG shipping costs to align with our Global gas Strategic Planning Outlook.
$1,050
Commodity Market Report
Pricing support for power markets: North America power and renewables November 2020 short-term outlook
Overall demand has gradually been recovering this year; however, fall demand numbers do imply headwinds to the recovery.
$2,000
