Thermal coal markets short-term outlook June 2021 Report

Commodity Market Report 30 June 2021

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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Seaborne coal prices continued their bull run throughout June, reaching a level not seen since 2011. Coal demand grew as the northern hemisphere entered the summer peak demand season, and the lack of sufficient supply response drove prices higher. China's recent decision to relax coal import controls has the potential to exacerbate or prolong the market tightness if extended past June. The question of how quickly both seaborne and domestic Chinese coal supply can return will define the market balance over summer.</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle font-semibold">
        High/low scenarios
    </li>

<li class="list__item-toggle font-semibold">
        China – strong demand for seaborne import results in seaborne price soaring
    </li>

<li class="list__item-toggle font-semibold">
        India – coal demand recouping backed by improving economic activity
    </li>

<li class="list__item-toggle font-semibold">
        South Korea – coal-to-gas switching economics support voluntary cuts
    </li>

<li class="list__item-toggle font-semibold">
        Vietnam – intense heatwave provides strong support to imports despite cost competition with domestic production
    </li>

<li class="list__item-toggle font-semibold">
        EMEARC – tight gas availability and high gas prices support coal burn
    </li>

<li class="list__item-toggle font-semibold">
        Australia – supply continues to underperform despite a recovery in June exports
    </li>

<li class="list__item-toggle font-semibold">
        Indonesia – finally a supply response?
    </li>

<li class="list__item-toggle font-semibold">
        Russia – infrastructure constraints remain
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<li class="list__item-toggle font-semibold">
        Colombia – Glencore to acquire 100% of Cerrejon
    </li>

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<p class="push-half--bottom">This report includes 5 images and tables including:</p>

<ul class="list list--bullets">
        <li class="list__item push-quarter--bottom">Low and high cases for Newcastle 6,000 kcal/kg at confidence intervals of 5%, 33%, 66% and 95% (US$/t)</li><li class="list__item push-quarter--bottom">South Korea coal-to-gas switching incentives</li><li class="list__item push-quarter--bottom">Australia thermal coal exports</li><li class="list__item push-quarter--bottom">Annualised change in thermal coal production in NSW by operator</li><li class="list__item push-quarter--bottom">Indonesia production and exports (Mt)</li>
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<h3 class="alpha push-half--bottom ">What's included</h3>
<p class="push-half--bottom ">This report contains:</p>
<ul class="list"><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Thermal Coal Markets Short Term Outlook Data June 2021.xlsx</p>
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<p class="font-regular" >Thermal coal markets short-term outlook June 2021</p>
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