The Chinese New Year (CNY) holiday is seen as having only limited impact on metallurgical coal production in China, compared with past years, according to a new report published by Mysteel. Traditionally, CNY is the time when Chinese people return home to celebrate the new year’s arrival and when workplaces are shuttered, but this year […]
European coal prices this week remained relatively well supported, underpinned by heightened utility demand, diminishing stocks and potential disruptions to Russian and Colombian supply. The front-quarter API 2 contract traded on Friday at USD 66/t, up USD 0.75 from last Friday’s settlement, but down from Tuesday’s near two-week high of USD 68.95/t, on Ice Futures. […]
Over the past week, thermal coal indices dropped below 65 USD/t due to the EU carbon prices strengthening to record highs. The price of carbon quotas determines the dark spread – profit margin of the coal-fired power plants on MWh produced. Therefore, higher costs of carbon allowances make coal less attractive on the market. Feb.03, […]
European coal prices have recovered from recent two-year lows, underpinned by the prospect of a cold snap across Europe next week and some threats to supply, yet tepid spot demand and bullish carbon prices limited gains. The front-quarter and front year API 2 contracts traded on Friday at USD 65/t and USD 66.35/t, respectively, up […]
Extract from Peabody quarterly results delivered on 4 February. Seaborne thermal coal markets have recently shown signs of improvement with Newcastle forward prices averaging over $80 per tonne in 2021. Colder than expected weather across Asia and Europe has resulted in record high power generation in key markets, driving global LNG prices significantly higher and […]
Indonesian coal index (Harga Batubara Acuan) is up by 31% on YoY basis and 16% on MoM basic in Feb 21. It has been set at $87.79/mt. With HBA sets CY 2020 avg at $58.17 against $77.89 in CY 2019HBA is being set by Indonesia’s Ministry of Energy and Mineral Resources as reference price of […]
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 […]