coal set to rebound after worst year
Thursday 23 January 2025
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Coal set to rebound after worst year

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Coal set to rebound after worst year

Malbourne - Arabstoday

The price of coal used to generate electricity in Asia may rebound after its biggest decline in six years as China imports unprecedented amounts of the fuel to power its growing economy. Thermal coal at the Australian port of Newcastle, the benchmark price for Asia, may average A$120 (Dh123.30) a metric ton this year, according to the median of five analyst estimates in a Bloomberg News survey. Prices slipped 12 per cent to $111.35 in 2011, the biggest annual drop since 2005 and the first since 2008, IHS McCloskey data show. Prices rose 46 per cent in 2010. \"It\'s more about at what price China will absorb more tons rather than how much will they import,\" Hayden Atkins, an analyst at Macquarie Group in London, said in an email. \"China remains the wildcard.\" Newcastle coal rose to the highest level in almost three years in January 2011 as the flooding in the state of Queensland cut exports by 33 per cent. Prices have since slid as China\'s buying eased and the availability of supplies from South Africa undercut Australian shipments, according to Peter Richardson, chief metals economist at Morgan Stanley in Melbourne. \"We saw a big import increase in China as well as a lift in domestic production, which effectively ended when inventories were rebuilt, and as a consequence, the market was much better supplied,\" said Richardson. trend overseas supply sought China\'s highest domestic coal prices in more than two years relative to Newcastle supplies, combined with an increase in the amount utilities can charge customers for their power, has encouraged electricity producers to seek more supply from overseas just as unfavourable weather limits output. The La Nina weather system, which contributed to flooding at Australian mines a year ago, is bringing heavier-than-normal rainfall to the country again, according to the Bureau of Meteorology. 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

coal set to rebound after worst year coal set to rebound after worst year

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

coal set to rebound after worst year coal set to rebound after worst year

 



GMT 13:10 2017 Thursday ,04 May

Russia, Turkey, sign pact on safe zones in Syria

GMT 07:32 2012 Tuesday ,24 January

Inkless Graphite Quill, last up 9 years

GMT 12:38 2014 Wednesday ,04 June

Messi world's most valuable player

GMT 08:42 2012 Thursday ,06 September

Latest Gigaset touch phone now in Qatar

GMT 14:56 2017 Monday ,31 July

Daesh claims attack on Iraq embassy in Kabul

GMT 11:13 2016 Wednesday ,12 October

And it’s a wrap at Arab Fashion Week!

GMT 09:56 2018 Wednesday ,17 January

Tripoli flights still suspended after fighting

GMT 10:52 2017 Friday ,29 September

May says 'very good progress' on citizens' rights

GMT 15:40 2018 Monday ,01 January

Dora: Her role in new drama is surprise

GMT 07:54 2017 Thursday ,23 November

Saeed Hasban hails achievement

GMT 09:13 2017 Saturday ,16 September

Facebook to decide who can cash in on ads
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice