- Write by:
-
Thursday, October 29, 2020 - 4:08:54 PM
-
711 Visit
-
Print
Mining News Pro - The Minerals Council of Australia released a report related to the outlook for seaborne thermal coal in terms of demand to 2030 in the Asia Pacific region.
The report was commissioned to Commodity Insights and it states that Asian thermal coal imports are expected to grow by more than 270 million tonnes (Mt) to 1.1 billion tonnes per annum over the next decade.
The market analyst says that this growth stands on the same drivers that allowed seaborne thermal coal volumes to double between 2006 and 2019, from 500Mt to 1,000Mt, rising in volume every year of that period except in 2015.
These driving factors are high electricity demand across developing nations, pushed by strong economic growth, increasing industrialization and higher electrification rates; high population growth, particularly India and Southeast Asia; significant coal-fired generation capacity commissioned in many countries; and, in some regions, an inability of domestic coal production to keep pace with demand growth, amplified by increasing demand for high-quality thermal coal, which is typical of seaborne traded coals.
According to the report, even though growth will be negative in 2020 due to the impact of covid-19, it will be followed by a solid recovery and most countries are expected to increase imports, with only Taiwan and Korea reducing volumes.
Moreover, five countries – among them The Philippines, India, and Vietnam – are forecast to increase demand by more than 30Mt.
In Commodity Insights’ view, such a rise illustrates the breadth of market demand growth for imported thermal coal – which is not reliant on growth from China.
Short Link:
https://www.miningnews.ir/En/News/606765
Coal India Ltd., the world’s largest producer of the commodity, reported a 26% increase in fourth-quarter profit, driven ...
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
When former boss Mark Cutifani left Anglo American Plc in mid-April 2022, things had rarely looked better for the ...
Teck Resources, Canada’s largest diversified miner, saw its copper production jump by 74% in the first three months of ...
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
BHP Group Ltd. proposed a takeover of Anglo American Plc that values the smaller miner at £31.1 billion ($38.8 billion), ...
China’s state planner on Friday finalized a rule to set up a domestic coal production reserve system by 2027, aimed at ...
The world’s coal-fired power capacity grew 2% last year, its highest annual increase since 2016, driven by new builds in ...
No comments have been posted yet ...