Pacific Rim coal prices
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Coal importers
Approximately 59% of global traded coal consumption is in Asia. The largest coal importers, based on 2008 estimates[1], are:
- Japan - 186 million tonnes (steam 128mt; coking 58 mt)
- Korea - 100 million tonnes (steam 76mt; coking 24 mt)
- Chinese Taipei - 66 million tonnes (steam 60mt; coking 6 mt)
- India - 60 million tonnes (steam 31mt; coking 29 mt)
- Germany - 46 million tonnes (steam 37mt; coking 9 mt)
- China - 46 million tonnes (steam 35mt; coking 11 mt)
- UK - 44 million tonnes (steam 37mt; coking 7 mt)
In early 2010, ABARE, an Australian government economic modeling and statistics agency, outlined what it thought the key trends would be over the next five years affecting thermal[2] and metallurgical coal demand and production.[3]
For thermal coal, ABARE forecast an increase in contract prices over the 2010-2015 period as a result of increased demand from India, the Republic of Korea, Chinese Taipei and Japan. ABARE also projected a 19% increase in thermal coal imports from 730 million tonnes in 2009 to around 872 million tonnes in 2015 which would predominantly be met with increased exports from Australia, Indonesia and Colombia. These countries, ABARE noted, have "expanded mine and infrastructure capacity." ABARE also noted that "production costs are projected to increase over the medium term as coal deposits which are deeper underground and further away from existing infrastructure are developed".[2]
Articles and resources
References
- ↑ World Coal Institute, "Coal Statistics", World Coal Institute website, September 2009.
- ↑ 2.0 2.1 Rebecca Petchey, Michael Lampard and Alan Copeland, Thermal coal", Australian commodities, ABARE, Volume 17 number 1, March quarter 2010, page 152-159.
- ↑ Robert New, Steel and steel-making raw materials", Australian commodities, ABARE, Volume 17 number 1, March quarter 2010, page 168-178.
