Australian Coking Coal Record High with Strong Demand in Korea and Japan

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”

Iron Ore Prices Rise Pre-emptively on Easing Along China’s Property Curve

Iron ore had the bears out in full force just a month or so ago, with the China attempt to “destroy Australia”, the shipping crisis and more. Analysts were anticipating demand for iron ore to collapse as China reduced its steel production. Targets were lowered to US$65 to $85 a tonne by many of the larger groups.  Here we are the most actively traded iron ore futures on the Dalian Commodity Exchange for May delivery closed 3.9% higher at 714 … Continue reading “Iron Ore Prices Rise Pre-emptively on Easing Along China’s Property Curve”

US Coal Generation Increased For The First Time Since 2014 Due To Soaring 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.

Rio Tinto Lowers 2021 Iron Ore Shipments Forecast on Tight Western Australian Labor Market

Australian mining giant Rio Tinto Group (RIO) on Friday reduced its 2021 Pilbara iron ore shipments forecast as the COVID lockdowns, Supply crunch were further hampered by a tighter labour market in Western Australia. These have all led to a delay of the completion of a new greenfield mine at Gudai-Darri.

Rio Tinto Delays First Production From Oyu Tolgoi Copper Mine in Mongolia

Australian mining giant Rio Tinto Group(RIO)on Friday announced it is delaying first production for the Oyu Tolgoi copper mine in Mongolia by three months to January 2023. $RIO is developing the mine with Canada’s Turquoise Hill Resources (TRQ.TO) in a joint venture.

Record High Chinese Coal Futures Prices After Biggest Coal Producing Region Floods

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”

Glencore Ebitda Soared as Coal Prices Have Tripled Since August 2020

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.

Resource Companies To Pay For Environment Rehabilitation In Australia

The Australian state of Queensland will unveil proposed resource regulations and an “insurance fund” to pay for the remediation of old mines. The aim is for resource companies, not taxpayers, to pay for the rehabilitation of the environment.

Norsk Hydro Sees Brazil Alumina Refinery Restart Later In Mid 2019

Norway’s aluminium producer Norsk Hydro reported higher than expected earnings on Tuesday boosted by higher aluminium and alumina prices. $NHYDY results came after both Alcoa and Aluminum Corp of China warned on tariffs and trade. Brazil still weighs.