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India's coal minister Pralhad Joshi announced the country will begin exporting thermal coal by FY26 and stop imports of some grades, anticipating an increase in domestic production.
The EU member states reached a political agreement on Mar 28, agreeing to extend the voluntary 15% gas demand reduction for one year. Under the terms, the EU Council retained the possibility of mandatorily requiring member states to reduce gas demand in the event of supply security problems. From Aug 2022 to Jan 2023, total EU gas consumption fell by 19.3%. Reducing gas demand could help replenish stocks, lower prices and secure more energy supplies.
The Baltic Dry Index was slightly higher on Mar 29, driven by increased Capesize and Panamax rates. The Baltic Dry Index rose 5 points to 1,407. The Capesize index rose 16 points or 1% to 1,662. The Panamax Index rose 37 points or 2.4% to 1,598 points. The Supramax index fell 30 points to 1,285 points.
Yitai Coal (03948) announced this morning that it achieved annual revenue of 60.647 billion yuan in 2022, up 19.68% YoY, and net profit attributable to shareholders of 10.975 billion yuan, up 26.98% YoY.
Peabody Energy Corp., the top US coal producer, shut operations at Shoal Creek Mine in Alabama following a fire on Mar 29 with no estimate of when it will reopen.
The Brazilian gov't said Mar 29 China and Brazil have reached an agreement to stop using the U.S. dollar as an intermediate currency and instead conduct trade in their own currencies. "This is expected to reduce costs ...... and promote bilateral trade and investment facilitation," Brazil's Export and Investment Promotion Agency said in a statement. China is Brazil's largest trading partner, with bilateral trade reaching a record $150.5 billion last year.
On Mar 28, Inner Mongolia Autonomous Region Natural Resources Department and Ordos City Natural Resources Bureau issued a mining license for Taohutu coal mine run by Ordos Chengda Mining Co. The coal mine covers an area of 71.35 km2, with approved capacity of 8 Mtpa on top of total resource reserves of 1.43 Bt. The mine can provide 22,000 t of high-quality production per day upon stable operation.
Vietnam produced 3.84 Mt of coal in Feb, up 22.41% YoY and 18.51% MoM, showed data from the country's General Statistics Office.
Yankuang Energy Group earned 30.77 billion yuan ($4.47 billion) of net profit in 2022, surging 89.27% YoY, and its operation revenue increased 32.13% YoY to 200.83 billion yuan, according to the company's annual performance report on Mar 24.
Shanxi Coking Coal's 0.6 Mtpa coke oven with chamber height at 5.5 meters is ordered to be closed by Mar-end this year, and its existing coal storage and blending equipment as well as dedicated railway links will be re-utilized to provide coal blend service and washed coal products to the customers.
The State Council Tariff Commission has announced that it will extend a zero import tariff rate on coal from Apr 1, 2023 until Dec 31, 2023, in order to ensure the secure and stable supply of the fossil fuel. Previously, the country had planned to resume a 3-6% tariff rate for imports of coal products from Apr 1.
Steel products prices in China continued to move up in mid-Mar (Mar11-20). The average price of construction steel rebar (HRB 400, 20mm) at 25 major cities in China stood at 4,272.6 yuan/t, up 46.4 yuan/t or 1.1% from ten days earlier, NBS data showed.
Global crude steel production fell 1% YoY to 142 Mt in Feb, showed data from WSA. In Feb, the top ten crude steel producers were China, India, Japan, the U.S., Russia, South Korea, Germany, Brazil, Iran and Turkey.
Daily crude steel output at key member firms of China Iron and Steel Association (CISA) stood at 2.25 Mt during Mar 11-20, rising 4.71% compared with the previous ten days, the CISA data showed.
For the week to Mar 24, the average cost of construction steel products produced by 40 independent electric arc furnace steel mills was 4,232 yuan/t, down 102 yuan/t week on week. The average profit was 56 yuan/t, while the profit averaged at 162 yuan/t during power valley demand periods, down 26 yuan/t week on week.
China's portside thermal coal market remained relatively stable on March 30, with minor fluctuations across different grades, although traders were concerned over a price decline amid reduced support
Chinese end users remained inactive in buying Australian coking coal, due to its low price competitiveness despite a significant decline in prices in the past week. This came alongside su
A series of coal mine have been recently shut down for safety rectification in China, even those with large production capacity owned by state-owned mining groups. According to Sxcoal dat
The overall situation of thermal coal supply and demand in China remained loose in February, with the supply exceeding the demand despite both falling from a month earlier. According to S
India's coal minister Pralhad Joshi has announced that the country will begin exporting thermal coal by the fiscal 2025-26 and stop imports of some grades, anticipating an increase in domestic product
Newcastle thermal coal futures for the April contract on the ICE closed at $192.75/t, slightly strengthening by 0.39%, with the positive sentiment barely outstripping the negative. This c
Thermal coal Production areaMost miners kept prices steady after leading miner maintained third-party coal purchase prices unchanged, yet still several miners made marginal up and downwar
Infographic | Japan coal imports in Feb 2023
Vietnam's coal production rebounded aggressively in February, with year-on-year growth over 20%, official data showed. The country produced 3.84 million tonnes of coal in February, up 22.
China thermal coal market in figures (Mar 30)
China will continue to implement zero-import tariffs for coal imports until the end of this year, according to a government document issued late last week. The State Council's Tariff Comm
Check out latest updates on the Chinese futures market for thermal coal, coking coal, coke and others at close.
Indonesia's Ministry of Energy and Mineral Resource (ESDM) has released its thermal coal reference price (HBA) for March, the first use since the formula for calculation was changed. Acco
Russia plans to increase coal exports to Asia-Pacific countries in 2023, TASS quoted Russian Deputy Energy Minister Sergey Mochalnikov as saying. Mochalnikov said Russia's coal exports sl
Infographic | China coal imports in Feb 2023
China's coal exports totaled 620,000 tonnes in the first two months of 2023, up 2.3% year on year, customs data showed. The exports were worth $217.81 million, up 22.8% year on year, data
The U.K. National Grid has announced that the government is considering reserving some coal-fired power plants as backup power for next winter to ensure sufficient electricity supply. How
China's cumulative power generation capacity of all sources totaled 2,599.93 GW by the end of February, an 8.5% rise year on year, data from the National Energy Administration (NEA) showed.
Five workers were trapped and on dead after a coal and gas outburst accident occurred in southwestern China's Guizhou province on March 19, according to an announcement from local governmental website
Northern China's Inner Mongolia produced 198 million tonnes of raw coal in the first two months of 2023, up 1.9% year on year, showed the latest data from the local statistics bureau. Thi
Thermal coal prices stayed stable at northern China ports for the fourth consecutive day, with no clear trends formed, leaving both sellers and buyers to sit on the sidelines for more clues.
Coking coal prices showed signs of a downward spirl in major producing areas of China due to a lack of buying strength from coke firms, some miners informed. On March 20, CCI Index
The ongoing stalemate between coke producers and steelmakers over the first round of coke price hike has started to add bearishness to the coking coal market. Coke firms continued to limi
Chinese buyers remained inactive in importing Australian coking coal even though the import barrier has been gradually lifted, partly due to cheaper domestic supplies and price-competitive alternative
China's raw coal production during January-February this year notched the highest for the same period in history, yet its year-on-year growth significantly shrank to 5.8%. Potential decline of product
China's portside thermal coal prices remained flat as market participants stood on the sidelines for more clues. Some traders expected demand from the cement industry to pick up and drive coal prices
China's growing imports of Australian metallurgical coal are likely to dampen its demand for Russian shipments, although it won't threathen the status of Russia as the second-largest supplier.
China registered a 71.4% year-on-year surge in coal imports to 60.64 million tonnes during the first two months of 2023. While the higher growth mainly resulted from the lower year-ago imports, the Ja
China has resumed coal imports from Australia this year, ending a vacuum period since October 2020. The resumption will make a difference in China's coal supply pattern, especially for steelmakers, bu
It has been more than seven months since the EU imposed a ban on Russian coal imports last August 11. In the meantime, European countries have been experiencing energy shortages, soaring prices and el
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