Global coal 2016 in review: a year of coal price extremes Report

Insight 03 February 2017

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Report summary

In 2016, coal prices, which had been in a long continuous free fall causing global mine closures, were suddenly elevated as China experienced a government-induced reduction in domestic coal output. Chinese domestic policy rekindled seaborne markets . Thermal coal prices were lifted by the impacts of Chinese supply policy. Seaborne metallurgical coal prices were influenced by shortage of prime HCC. Carbon prices, nuclear outages and low gas prices caused fuel switching in Europe. Nuclear outages impacted demand in the rest of the world. Seaborne suppliers responded cautiously to rising prices. M&A activity remained subdued, but Anglo and Rio announced coal sector exit.

Chinese domestic policy rekindled seaborne markets
2016 was a year of extremes in coal prices
Thermal coal prices were lifted by the impacts of Chinese supply policy
Seaborne metallurgical coal prices were influenced by shortage of prime HCC
India changed course and imported less coal
Carbon prices, nuclear outages and low gas prices caused fuel switching in Europe
Nuclear outages impacted demand in the rest of the world
Seaborne suppliers responded cautiously to rising prices
- Major global mine closings, idlings, suspensions, restarts and planned restarts, 2016
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