Chinese Steel Macro Update
Herewith a quick rundown on Chinese Leading Indicators, PMI’s, and Steel Production. Plus metallurgical coal and iron ore implications.
China
Power Plant Pipeline – More Thoughts
We’re beginning to see the inadequacy of Chinese coal production to meet their own power demands as production falters & demand climbs.
Chinese Market: 2023 Coal Mid-Term Strategy
The following report published by a Chinese investment bank, Cinda Securities, contains some inside baseball on the Chinese coal industry.
Thoughts on Chinese Permitted Coal Power
In the first half of 2023, China approved 52 GW of new coal power projects, a significant increase from the 15 GW permitted in H1 2022
Coal News & Price Data – July 21, 2023 – European Gas Markets Heat Up
European natural gas prices rose 3.9% as traders considered extreme heat and concerns over reduced Russian fuel supplies.
Coal News & Price Data – July 20, 2023 – Xi Refuses to Meet with Kerry
Chinese President Xi Jinping made it clear that China will not allow its path to curb emissions to be dictated by others.
Coal News & Price Data – July 19, 2023 – Whitehaven Locked & Loaded for Daunia?
BHP is open to selling its coal mines separately, potentially allowing Whitehaven Coal to bid for the Daunia mine without raising equity.
Coal News & Price Data – July 18, 2023 – Richards Bay Coal Terminal Reopens
After a partial closure due to environmental management non-compliance the Port of Richards Bay has resumed its operations.
Coal News & Price Data – July 17, 2023 – Met Coal Q2 Review
Asian metallurgical coal prices saw significant declines in Q2, with PLV Hard Coking Coal falling by 22.3% quarter on quarter to $233/mt.