
Coal News & Price Data – November 3, 2023 – Weekly Met Market Summary
Chinese premium metallurgical coal prices were steady in early November, driven by soft coke prices and sustained demand from end-users.

Chinese premium metallurgical coal prices were steady in early November, driven by soft coke prices and sustained demand from end-users.

China is facing an oversupply of coal, with robust domestic production and surging imports creating a glut in the market.

European natural gas inventories are basically 99% full ahead of the mandated filling target of 90% capacity by November 1.

Australian metallurgical coal prices have seen a small rally, influenced by factors like supply tightness and market tactics.

Australian mining company South32 experienced an unexpected 18% decline in first-quarter metallurgical coal production.

The interest in seaborne metallurgical coal in China is waning due to a slowdown in steel production and sustained losses in steelmaking.

In first half of October, coal stocks at power plants in India experienced a rapid depletion, dropping by 12.6% to 20.58 million tonnes.

China’s coal production is projected to continue growing this year, albeit at a slower pace due to increased emphasis on cleaner energy.

Seaborne buying interest for CFR China basis increased due to tight domestic met coal supply and higher Q4 prices for domestic PLV.

India’s crude steel output for January-September increased14% compared to the previous year, mainly due to infrastructure growth.

Teck CEO Price expressed confidence in the company’s stake sale to India’s JSW despite geopolitical tensions between Canada and India.

It’s important to think about Chinese policy and ask ourselves why their actions don’t quite line up with their rhetoric.