India’s Coal production down by 3% in Jan 21 on YoY and 2% up by MoM. Coal production in Jan 2021 stands at 73 Million Metric Tons (MMT) down by 3% on YoY basis. Demand and burning of coal from small and medium scale industry is back to Pre-Covid level. India’s Coal production was 75 […]
Glencore, one of the world’s largest coal suppliers, saw its coal production slump 24% on the year to 106.2 million tonnes in 2020, according to its annual production report on February 3. The decline is mainly attributed to the COVID-19 pandemic, falling coal prices and strikes in Predeco mine. Glencore produced 86.1 million tonnes of […]
Mikhail Fedyaev, cofounder of coal mining company Sibirskiy Delovoy Souz (SDS), purchased 62% shares of the company from his partner Vladimir Gridin. Given that Mikhail Fedyaev already had 33%, he acquired a majority stake of 95% of the company. The price of the deal is estimated at 250-500 mio USD. Gridin’s withdrawal from SDS was […]
For the first time on record, during 2020 the ratio of coal-fuelled thermal power generating capacity installed in China fell to less than half of the country’s total power capacity, according to a new report by the China Electricity Council (CEC) published on February 2. Last year, coal was the core input for about 1.08 […]
According to international coal market consultancy, Perret Associates, the international steam coal market has already rebalanced following the impact of the COVID pandemic. In the latest edition of its Long Term Price Forecast 2021-2035 Steam Coal and Freight – The World After COVID, Perret Associates sees parallels with the 2008-09 world financial crisis, rather than the […]
World coal market for this week, some key developments. Rising daily temperatures in a number of European countries, lower gas quotes and high EU carbon prices weakened thermal coal indices in Europe below 70 USD/t. Warm winter in Europe led to a decline in the volume of generation, produced by thermal power plants. TTF gas […]
Anglo American: Export metallurgical coal production decreased by 33% to 4.2 million tonnes, due to the suspension of operations at Grosvenor following the underground gas incident in May 2020, and lower Moranbah production owing to geotechnical challenges. Open cut operations have been scaled back at Dawson and Capcoal in response to reduced demand for lower […]
Coal exports from Brisbane port in Queensland, Australia climbed 26.6% from a month ago to 404,600 tonnes in December, hitting the highest since September 2020, according to data from the PBPL. The exports, however, were still 21.84% lower compared with the year-ago level, data showed. The port exported a total of 4.39 million tonnes of […]
European coal prices have risen sharply in recent sessions, underpinned by related market gains, but physical demand continued to slacken. The front-quarter API 2 contract traded on Friday at USD 69.40/t, up nearly 6% on the week, while the front year was 4% higher at USD 70.20/t, on Ice Futures. “I don’t see a reason […]