Record prices for top quality Australian hard coking coal were set three times in the past week. The price hit $US430 ($595) a tonne Wednesday, almost four times the price in May. Coal prices have risen unabated with supply chain disruptions. Strong demand in Korea and Japan has fueled the rally over the past seven weeks. The prices were already pressured with Indonesia’s decision to ban coal exports. Further pressure on coal prices came from BHP, the world’s biggest coking … Continue reading “Australian Coking Coal Record High with Strong Demand in Korea and Japan”
Fitch Solutions In its latest industry report expects Asia LNG, US Henry Hub natural gas, tin and lithium to average higher in 2022. Fitch expects most other global commodity prices to pull back in 2022 from current levels. Fitch Solutions expects strong prices in 2021 to incentivize production in 2022, in particular in agriculture. The energy crisis in Asia and Europe and the shift towards Electric vehicles puts a bid on related commodities for the most part. Fitch Solutions said developing … Continue reading “Fitch Expects Asia LNG, US Henry Hub Natural Gas, Tin and Lithium to Average Higher in 2022”
Australia posted a trade surplus of A$11.22 billion in October exceeding expectations for a surplus of A$11.0 billion. It was the smallest trade surplus since May, amid softening global demand as more countries battled with a resurgence of coronavirus infections. Follows a downwardly revised A$11.82 billion trade surplus in September (from A$12.243 billion). Exports fell 3.0% m/m or A$1.491 billion to A$43.053 billion. Goods were down 3.0% and services fell 6.0% Imports also slipped 3.0 percent on month or A$887 … Continue reading “Australia October Trade Surplus AUD+11.22bn With Exports Lower on Iron Ore Prices”
Haynesville is expected to produce a record 13.6 billion cubic feet per day (bcfd), about 15% of U.S. shale gas output next month. Private equity firms are looking to sell companies and land they own to take advantage of surging natural gas prices.
The EIA in their STEO expect 22% more U.S.Coal Fired Generation in 2021 over 2020. The increase is from soaring higher natural gas prices. While Coal prices have risen unabatted with supply chain disruptions globally there have risen less than gas in the US.
Coal prices have risen unabated with supply chain disruptions, China has been particularly badly hit and that just got more critical. Floods closed 60 of the 682 coal mines in Shanxi province, 30% of China’s production. Torrential rains has led to flooding and expanded mine shutdowns in China’s biggest coal producing region, Shanxi province. In a market already squeezing higher this latest news sent Thermal coal futures to a new intraday record after trading opened Monday. Beijing is ina … Continue reading “Record High Chinese Coal Futures Prices After Biggest Coal Producing Region Floods”
The EIA expect U.S. consumption of natural gas to fall 0.9% from 2020 in part from higher natural gas prices seeing electric power generators switch to coal. They expect U.S. natural gas consumption in 2022 mostly unchanged from 2021 in their September 2021 Short-Term Energy Outlook (STEO).
The energy crisis is ravaging China, as coal prices soar to unseen prices North China’s Inner Mongolia autonomous region have been ordered to boost output by nearly 100 million tons. 72 mines in the three cities There are 72 mines in 3 cities under the directive.
Coal prices have soared with supply chain disruptions, the Chinese trade war with Australia and material shortages. By September 2021 thermal coal price have tripled from a year ago seeing Glencore’s ebitda run rate soar with prices.
With energy prices skyrocketing coupled with China’s clean energy transition strategy to lower emissions Zhejiang province authorities ordered around 160 energy-intensive companies to temporarily halt production.