Total Solid Fuel imports touched about ~ 26 MMT with Non coking imports exceeding 17 MMT. In the first 4 months of 2024, solid fuel imports exceed 91 MMT vs 81 MMT in first 4 months of 2023. Pet coke imports grew 34.42% to 5.61 MMT vs 4.17 MMT in first 4 months of 2023. PCI imports also continue their secular growth growing 16% in the first 4 months of 2024. Coking coal imports have grown ~ 12% and non coking coal imports ~ 10%.
Glencore’s spin-off plan arrives in the context of rising investor concerns about the responsibility of coal divestments and growing pressure on Scope 3 emissions. Although Glencore likes to highlight the brighter outlook for metallurgical coal, the spin-off would be predominantly a thermal coal miner.
The international thermal coal market retreated during the week taking the south turn as coal supply improved in the market. With the exception of Indonesian coal prices, which are experiencing strong demand from the world’s largest coal importers, China and India, prices for coal from other international suppliers have declined during the week. This downward pressure is largely attributed to lower demand from China and India’s non-power sectors, coupled with positive news from the USA regarding coal shipments resuming from the Baltimore bridge.
NERC’s latest reliability assessment shows that the U.S. electricity grid is becoming increasingly reliant on weather-dependent sources of electricity, leaving one-third of the country at elevated risk of blackouts this summer. However, the risks will increase because of EPA regulations. However, this is only a temporary band aid because EPA regulations will cause more coal retirements that cannot be delayed. These regulations, especially the recently announced Carbon Rule, increase the chance of blackouts.
Last week, thermal coal quotations on the European dropped below 104 USD/t, pressured by reduced consumption, increased RES generation, and...
The availability of high-quality Russian coal on the global market, including thermal material, PCI coal and anthracite, significantly decreased in...
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In...
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