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A grand groundbreaking ceremony was held recently at the mining site for the Oboot Tolgoi Coal Mine project in South Gobi Province, Mongolia. This project is one of the key initiatives undertaken by the PowerChina International Group in Mongolia. The coal deposits in the mining area mainly consist of coking coal and semi-soft coking coal, with a total estimated reserve of 99.47 Mt.
Mongolia exported 1.75 Mt of iron ore in Jan-Apr, jumping 72.03% or 732,900 t YoY, showed latest data from MCGA. The total export value soared 47.45% YoY to $151 million during the first four months.
China's producer price index (PPI), which measures costs for goods at the factory gate, fell 3.6% YoY and 0.5% MoM in Apr. The consumer price index (CPI) increased 0.1% YoY but fell 0.1% MoM, NBS data showed.
Australia plans to use "industry averages" in setting emissions limits for coal mines which could have significant implications for underground coking coal mines which tend to have higher methane emissions and could be disproportionately affected by the policy.
International oil prices fell on May 10. At the close of trading, light crude oil futures for Jun delivery on the New York Mercantile Exchange dropped $1.15 to settle at $72.56 per barrel, a decrease of 1.56%. Brent crude oil futures for Jul delivery on the London-based ICE Futures Exchange fell $1.03 to settle at $76.41 per barrel, down 1.33%.
Taiwan's coal imports totaled 5.25 Mt in Apr, up 4.76% YoY and 19.6% MoM, preliminary customs data showed. The import value for coal was $1.24 billion, up 5.83% YoY and 12.75% MoM. The average import price was calculated at $236.37/t, up 1.02% YoY but down 5.73% MoM.
Baosteel, a subsidiary of state-run China Baowu Steel Group, continued to cut its domestic base prices for some main steel products by 150-200 yuan/t for June bookings due to weak demand expectation.
Mongolia's coal exports totaled 19.05 Mt during Jan-Apr 2023, surging 15.26 Mt or 402.41% YoY, showed data from MCGA. The export amounts totaled $3.06 billion during the first four months, jumping 187.66% YoY.
According to data from the Secretariat of Foreign Trade (SECEX), Brazil's iron ore exports in April 2023 reached 25.204 Mt, down 7.3% YoY but up 1.9% YoY. The export value amounted to $2.17 billion, down 13.1% YoY. The average export price of Brazilian iron ore in April was $86.2/t, down 14.7% YoY.
According to data released by the Russian Railways News Center, coal shipments by Russian railways in Jan-Apr totaled 121.6 Mt, up 1.0% YoY. Coal remains the largest commodity transported by Russian railways, accounting for 29.6% of the total railway freight volume.
According to the latest data from Southern Power Grid, the total Q1 electricity consumption in the provinces of Guangdong, Guangxi, Yunnan, Guizhou, and Hainan reached 331.5 TWh, up 3.7% YoY. This growth rate is 1.2 percentage points higher than the same period last year and 0.7 percentage points higher than the cumulative growth rate for January and February. Notably, Guangxi recorded the second-highest electricity consumption growth rate in the country in March, reaching 15.8%.
Adaro Energy saw its coal output jump 29% YoY to 15.69 Mt in Q1 2023, while its sales also increased 29% YoY to 15.72 Mt. Exports totaled 11.81 Mt over the period, a 38.3% rise from the previous year, with the bulk of coal shipped to China and India, accounting for 19% and 9% of the company's total sales, respectively. Sales to the domestic producers made up 25% of overall sales.
China exported 28.01 Mt of steel products during Jan-Apr, surging 55% YoY, according to data released by GAC on May 9. In Apr, the country exported 7.93 Mt of finished steel, inching up 0.5% MoM and soaring 59.4% YoY.
China's steel products imports were registered at 2.5 Mt during Jan-Apr 2023, a YoY slump of 40.1%, according to the data released by GAC on May 9. In Apr, China imported 585,000 t of steel products, down 38.8% YoY and 14.2% MoM.
China imported a total of 40.68 Mt of coal in Apr, rising 72.73% or 17.13 Mt on the year but retreating 1.19% or 489 Kt compared with the previous month, GAC data showed.
Indonesian thermal coal prices still stayed unchanged on May 12 amid rain-related supply disruptions in key producing areas. There were limited offers/bids in the market, despite reports
Indonesian thermal coal remains stable despite lower demand Indonesian thermal coal prices remained unchanged, as available cargoes tightened amid adverse weather conditions, despite reduced
China's portside thermal coal prices drift lower as demand remains weak China's portside thermal coal prices fell again for the third consecutive day on May 10 as end users remained on the s
China's portside thermal coal prices took a respite on May 12 after falling for four consecutive days, but the overall outlook remains uncertain due to unchanged fundamentals. On May 12,
Coking coal miners in China's leading production province of Shanxi continued to lower their starting prices for online auctions in response to inactive buying from coking plants, and the unsold volum
A large coal mine with annual capacity of 6 million tonnes is expected to commence operation late this month, local media reported, helping support the "West-to-East" power transmission project.
China faced a significant power shortage at the end of the summer peak consumption period in 2021, and since then, efforts have been made to mitigate such challenges and ensure stable power supply
South Africa's troubled state-owned power company, Eskom, is seeking assistance from China to combat the country's severe electricity shortages, according to a report by Financial Times.
Thermal coal Production area Continued delivery of term contract coal let some miners free of inventory pressure. Yet the outlook on the near-term spot coal prices remained slightly bearish. Non
Southeast Asia, often overlooked when discussing major coal-consuming markets and their carbon emissions impact, is set to emerge as a dominant force in global coal consumption. Over the past five yea
China's national coal mine safety regulator ordered Inner Mongolia to immediately stop increasing capacity at 30 opencast coal mines and cut approved capacity back to original levels, while demanding
China's imports of coal, natural gas, iron ore, steel products, etc.
Daily crude steel output at key member firms of China Iron and Steel Association (CISA) stood at 2.21 million tonnes during April 21-30, falling 3.63% compared with the previous ten days, the CISA dat
Australia exported 5.43 million tonnes of coal to China in April, up 28.2% from March and 3419.5% year on year, according to cargo tracking data from Kpler. Total Australian coal exports
Australian coal miners are gearing up for a battle over emissions limits as the government proposes using "industry averages" to determine the restrictions. This policy could have signifi
China's coal imports continued to see strong year-on-year growth yet slightly retreated from a second high in the preceding month, according to the latest customs data released on May 9.
Russia's seaborne coal exports totaled 15.62 million tonnes in April 2023, climbing 8.57% from the preceding month and 5.83% on the year, marking the second month of increase, according to Kpler's car
Arch Resources, one leading coal producer in the U.S., sold 2.20 million tonnes of metallurgical coal during the first quarter, rising 47% year on year but retreating 4% from the previous quarter, the
China's robust coal imports so far this year have built inventories at coastal power plants to high levels, likely curbing their appetite for purchases during peak summer demand and weighing on prices
Indonesia's coal major Adaro Energy saw its coal output jump 29% on the year to 15.69 million tonnes in the first quarter of 2023, according to its latest quarterly report. This is mainly
China's coking coal prices have dropped to their lowest in almost two years due to the prolonged lack of buying strength from coking plants, and the downside pressure remains amid the continued weak t
China's coking coal prices have hit the lowest in nearly two years but still yet to find their bottom in light of the fast-rising inventory pressure at production areas and further downside risks in t
China's national coal mine safety regulator has ordered Inner Mongolia to immediately stop increasing capacity at 32 opencast coal mines with major hidden dangers after recent inspections, including
Indonesian thermal coal prices were largely unchanged on May 4 despite some miners reporting slower loading at ports due to heavy rain. Some Chinese traders said Indonesian miners told th
Indonesian low- and medium-CV thermal coal prices remained firm on concerns of lower shipments because of rain, although price advantage over Chinese domestic coal has narrowed, curbing demand from Ch
China's portside thermal coal prices fell again for the third consecutive day on May 10 as end users remained on the sidelines, expecting further declines in the near term. At northern po
Spot prices for thermal coal were little changed at northern China ports on May 4, the first day participants returned from holidays, though some expected prices to edge lower in coming days due to am
China's metallurgical coke market came under new pressure as some steelmakers in Hebei requested to further cut coke prices by 100 yuan/t to improve their profit margins amid the continued supply surp
Indonesian thermal coal prices edged up on May 5 after Chinese buyers returned from holidays, though the market's direction remained unclear as bullish and bearish factors counterbalanced each other.
Indonesian thermal coal prices remained unchanged, as available cargoes tightened amid adverse weather conditions, despite reduced Chinese demand. Chinese demand for Indonesian coal has b