International thermal coal prices diverged, with Australian, Russian, and USA coal prices receiving support, while Indonesian and South African coal prices plunged on a weekly basis. The supply side remained stable with no notable disturbances. Indian demand remained bearish. Although Chinese demand was expected to increase with the onset of the summer season, high inquiries did not materialize into confirmed deals.
China has been the world’s biggest investor in renewable energy sources, but it has also spent heavily on coal and nuclear power. Any reductions in greenhouse gas emissions are merely a by-product of these processes; in fact, China has been party to global climate agreements mainly for reasons of prestige. Coal, the cornerstone of China’s energy security, has been the main counterweight to the country’s growing dependence on foreign supplies of raw materials. Despite years of efforts to diversify domestic sources of energy production, coal still accounts for around 60% of China’s primary energy consumption. Unlike oil and gas, domestic […]
The smaller fall in coal consumption in Current Trajectory scenario partly reflects continued increases in coal consumption in India and other emerging economies to help meet the rapid expansion of domestic energy demands, especially for electricity use. Despite India’s wind and solar power generation increasing 15-fold in Current Trajectory, coal consumption nonetheless increases by 75% to help meet rising energy demands, with two- thirds of that increase deployed in the power sector.
How significant will the power demand growth from AI/data centers be? The authors forecast a 15% CAGR in data center power demand from 2023-2030, driving data centers to make up 8% of total US power demand by 2030 from about 3% currently. We now see a 2.4% CAGR in US power demand growth through 2030 from 2022 levels vs. ~0% over the last decade. Of the 2.4%, about 90 bps of that is tied to data centers.
Over the past week, European thermal coal indices dropped to a five-month low (slightly below 102 USD/t), moving in the...
On July 10, 2024, the Russian State Duma approved in the third reading a bill stipulating an increase in the...
The Russian government has adjusted the previously proposed parameters for increasing coal production taxes from 2025. The surcharge to the...
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