Coal News & Markets Summary

Feb. 4 - Feb. 11, 2024

Australian hard coking coal prices edged up slightly on the week, with both the FOB Australian and CFR China index now priced at $316/mt (+0.2% WoW).

• WoW: FOB Aus +0.2%, CFR China +0.2%

• MoM: Fob Aus -4.8%, CFR China -4.8%

• YoY: Fob Aus -15.2%, CFR China -19.5%

Since price relativities are becoming more important for the industry in recent years, the following chart will be included in weekly updates:

Seaborne thermal coal indexes showed some dispersion this week, with Newcastle rebounding 5% while European (API2) and South African prices continued to slide lower.

• WoW: API2 -2.4%, NEWC +5.1%, S. Africa -1.6%

• MoM: API2 -11.8%, NEWC -1.0%, S. Africa -4.0%

• YoY: API2 -27.2%, NEWC -44.3%, S. Africa -36.4%

Weekly News & Summary

Here’s the weekly rundown of the most important Coal News and Market information which I’ve curated for free and paid subscribers.

Earnings Releases

• CONSOL Energy Reports Q4 2023 Results

• Peabody Q4 2023: Missed Analyst Estimates, Lower Earnings, But Strong Guidance for 2024

• Anglo American’s Queensland Met Coal Falls Short of Guidance

• US Steel loses money in Q4 2023

Met Coal Updates

• Asia met coal could see supply crunch in Q1, reselling interest to cap price rise

• Australian Coking Coal Exports dropped 5.8% in 2023

• India Coking Coal Imports down 5% MoM in January

• Australian coking coal exports drop 17% MoM in January 2024

• Hampton Roads volumes up 12% in 2023

Steel Sector Updates

• Chinese 2023 Steel Export Review & 2024 Outlook

• China’s blast furnace capacity use rises further to 83.8%

• India’s SAIL may inject $240+ million in new steelworks

Thermal Updates

• Indonesian coal demand expected to remain strong in 2024

• India thermal coal imports down 11% MoM in January

• Colombia coal exports drop 1% in 2023

• China Is Dominating the World’s New Coal Power Plant Pipeline

• India Coal Production & Import Update for January 2024

• Indonesia unlikely to relinquish top exporter position in foreseeable future

Additions and Subtractions

• New Hope commits A$105 million to Maxwell Mine project development

• Queensland government gives green light to Whitehaven Coal’s Winchester South coal mine

• Russell Vale Colliery to Close Despite Recent Restart

• New Coal Mine Proposed for Canadian Rockies

Premium Updates

• Peabody Earnings Call Notes

• CONSOL Post-Earnings Thoughts (Substack link)

• CONSOL Earnings Call Notes

• CONSOL ALERT (Substack link)

• Pre-Earnings Narratives & Review (Substack link)

• Alliance Post-Earnings Thoughts (Substack link)

• Alliance Earnings Call Notes

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