DEMAND-- China Axes Australian Thermal Coal

摘要

Global thermal coal consumption is forecast to continue to form a dominant portion of the electricity generation mix of many developed and emerging economies. AME forecasts export thermal coal demand to decrease 2.8% to 996Mt in 2020 due to coronavirus pandemic. In 2021, export thermal coal demand is forecast to rise 0.5% to 1001Mt. China imported 24.7Mt of thermal coal in April, an increase of 38% year on year. China imported 99.8Mt of thermal coal during the first four months of 2020, up 31.2% from the previous year. The surge in imported coal as well as increased domestic output, combined with low demand, resulted in Qinhuangdao 5,500 kcal/kg NAR spot price falling to CNY470/t (US$65/t, including VAT) and entering the red zone in mid-April.