
Coal News & Price Data – August 30, 2023 – China Approved More 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

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

The IEA’s July 2023 coal market update reveals production costs remain high, as reflected in recent financial reports from producers.

Lets go through BHP’s Economic and Commodity Outlook, pull out/summarize the important highlights and provide my thoughts on various topics.

China’s crude steel production surged by 11.5% year-on-year to 90.80 million metric tons (mt) in July

In terms of Chinese economic growth and steel demand, here’s what we know.

China increased permits for new coal power plants in 2022, with local governments approving permits for 106 GW of new coal-fired capacity.

The dry bulk shipping market is expected to face challenges in the third quarter due to China’s sluggish economic recovery and weak commodity demand.

A tornado struck the North Antelope Rochelle Mine during shift change, resulting in eight injuries and no fatalities

Construction weakness & seasonal influences in China & overcapacity of steel production and oversupply of finished steel the country.

Q1 ’23 Steel Market Overview – And implications for Met Coal

Metallurgical coal prices have been flying again, touching $390/mt (according to Platts, PLV Low Vol FOB Australia) overnight.

China used to be counter-cyclical, but they’re intent on reigning-in their credit bubble. Implications for global growth are profound.