2021-07-06 11:45:00
INDONESIA COAL UP
REUTERS - July 5, 2021- Indonesia set its coal benchmark price at the highest in more than a decade, an official document published by its energy and minerals ministry showed on Monday, supported by sustained demand from China.
The ministry set the benchmark coal price at $115.35 per tonne in July, higher than the $100.33 per tonne in June and the highest since $117.6 per tonne in May, 2011, Refinitiv data showed.
"China's domestic coal supply capacity continues to run low while power generation activities resume," energy and mineral resources ministry spokesman Agung Pribad said in a statement, adding demand also increased from Japan and South Korea.
"This has an impact on the increase in global coal prices," he said.
China unofficially banned imports from its top supplier Australia last year, with Chinese buyers informally told by custom officials not to purchase Australian coal.
This has resulted in China looking elsewhere to source coal, making Indonesia's one of the biggest beneficiaries.
China signed a deal worth around $1.5 billion to buy Indonesian thermal coal last year.
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Earlier:
2021, June, 24, 12:10:00
CHINA NEED COAL
A conservative estimate would be for coal consumption of around one billion metric tonnes in 2050, still contributing 10%-15% of China's total energy consumption
2021, June, 24, 12:05:00
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2021, May, 24, 12:55:00
COAL INVESTMENT DOWN
In a communique, which Reuters saw and reported on earlier, the Group of Seven nations - the United States, Britain, Canada, France, Germany, Italy and Japan - plus the European Union said "international investments in unabated coal must stop now".
2021, April, 23, 11:05:00
CHINA COAL WILL DOWN
"China has committed to move from carbon peak to carbon neutrality in a much shorter time span than what might take many developed countries, and that requires extraordinarily hard efforts from China,"
2021, April, 15, 13:10:00
CHINA'S CLEAN COAL
China said in its 2021-2025 five-year plan published in March that it would continue to promote the “clean and efficient use of coal”.
