Weekly global coal market news summary (Feb 11 –Feb 14)

sxcoal.com General 2018-02-14 10:25:00

China urges U.S. restraint on steel imports

China has expressed concerns over excessive protectionism in the steel sector by the United States, and urged it to show restraint in a probe into steel imports, an official with Chinese Ministry of Commerce (MOFCOM) said on February 13.


Wang Hejun, the head of MOFCOM's Trade Remedy and Investigation Bureau, made the comments ahead of a meeting later in the day between U.S. President Donald Trump and a group of U.S. lawmakers to discuss trade. Trump is mulling whether to takes steps to limit steel and aluminium imports seen as damaging to U.S. businesses.


Global thermal coal demand will outpace supply in 2018, Noble analyst

Global thermal coal demand will outpace supply in 2018, leading to a strong market driven by rising demand from top buyers India and China, the chief coal analyst at Noble Resources said on February 13.


Coal demand this year will increase by 48 million tonnes, or 5% higher than 2017, to 974 million tonnes, said Rodrigo Echeverri, the head of hard commodities research at Noble, at the Coaltrans India conference in Goa. However, supply this year will only expand by 38 million tonnes.


Wind energy installations continue to grow, WWEA

The overall capacity of all wind turbines installed worldwide by the end of 2017 reached 539.291 GW, preliminary showed statistics from World Wind Energy Association (WWEA).


A WWEA report, released on February 12, further showed that 52.552 GW of wind energy capacity were added last year, slightly more than in 2016 when 51.402 GW went online.


Australia's Aurizon cuts coal haulage guidance due to QCA's draft plan

Australian rail firm Aurizon has cut its forecast coal haulage volumes to 210-220 million tonnes for the 2017-18 fiscal year ending 30 June from 215-225 million tonnes, as it changes its maintenance plans in Queensland to compensate for lower regulator-approved revenues in its networks business.


The change in maintenance planning could cut Queensland coal haulage capacity by 20 Mtpa or more out until 2021, Aurizon told investors at its half-year results on February 12.


TerraCom upgrades coal reserve and extends Blair Athol mine life

TerraCom has secured an extension to the mine life at the Blair Athol thermal coal operation in Queensland.


The company has upgraded Blair Athol's JORC reserves from 15.6 million tonnes to 18 million tonnes after working with Deswik Mining Consultants at the operation since last September.


India's coal demand growth in non-regulated sector to be higher

As a primary source of energy, coal will continue for some more time in India and its demand in the non-regulated sector is expected to be higher than the regulated sector like power, a study said.


"Coal to continue enjoying demand for some more time in India. Even in the most adverse scenario, as of second quarter 2017, it appears that the demand for coal in India, as a source of primary energy, shall expand until 2030 and perhaps beyond," said the study "Coal Vision 2030".


South Africa Dec thermal coal exports up 12.6% YoY

South Africa's thermal coal exports reached 7.82 million tonnes in December, falling 1.37% month on month but up 12.58% from the year prior, showed customs data.


India remained the largest taker of South African thermal coal in December, importing 3.79 million tonnes, increasing 123.79% on the year and 17.92% from November.


Indian government allocates 11 coal mines to CIL

Aiming to increase the annual coal production capacity, Indian government has allocated eleven coal mines to Coal India Ltd (CIL) under provisions of the Coal Mines (Special Provisions) Act, 2015 and the MMDR Act, 1957.


In a written reply to a question in the Upper House of the Parliament on February 9 Union Coal Minister Piyush Goyal mentioned that the new coal blocks will add about 225 million tonnes coal in its collective annual production capacity.


Coal India Q3 profit up 4.2% at Rs3,004 crore

State-run miner Coal India Ltd (CIL) on February 10 reported a 4.21% increase in its consolidated net profit at Rs3,004.79 crore ($4.67 million) for the quarter ended December 2017.


The company had posted a net profit of Rs2,883.27 crore during the October-December quarter of the previous fiscal, CIL said in a regulatory filing. Total income during the quarter under review stood at Rs22,484.14 crore. It was Rs23,064.65 crore in the corresponding period of the last fiscal.


Australia's Aurizon scraps rail plan in latest blow to Adani coal project

Aurizon Holdings Ltd has scrapped plans to build a rail line that could have served Indian conglomerate Adani's long-delayed coal project in Australia, Aurizon and the Australian government said on February 9.


The country's biggest coal hauler had applied for a loan from the government-run Northern Australia Infrastructure Facility (NAIF) to build a rail line from the Galilee Basin to transport coal nearly 400 km (250 miles) to the coast from a number of proposed projects.


(Writing by Zoey Yan  Editing by Jessie Jia)
For any questions, please contact us by inqury@fwenergy.com or +86-351-7219322.

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