{"id":1117821,"date":"2019-05-24T21:33:04","date_gmt":"2019-05-24T21:33:04","guid":{"rendered":"http:\/\/www.mining.com\/?p=989237"},"modified":"2019-05-24T21:33:04","modified_gmt":"2019-05-24T21:33:04","slug":"coking-coal-price-to-remain-elevated-in-2019-report","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1117821","title":{"rendered":"Coking coal price to remain elevated in 2019\u2014 report\u00a0\u00a0"},"content":{"rendered":"

In its latest industry trend analysis,\u00a0Fitch Solutions<\/i>\u00a0sets the coking coal price\u00a0forecast\u00a0for 2019 at\u00a0$195\/tonne. The analysts predict prices will remain elevated, with strong demand from China’s steel sector as US-China relations deteriorate and the probability of further economic support from the government to the slowing Chinese economy rises.<\/span>\u00a0<\/span><\/p>\n

On the supply side,\u00a0Fitch<\/i>\u00a0expects\u00a0production misses from Australia to keep the\u00a0market tight in the coming quarters as large diversified miners lose their appetite for mining coal.<\/span>\u00a0<\/span><\/p>\n

Although\u00a0Fitch analysts\u00a0are more positive on coking coal prices in the coming quarters than\u00a0they\u00a0were one year ago,\u00a0they\u00a0maintain\u00a0the\u00a0view that prices will ease in the long-term as the Chinese steel sector resumes its slowdown and the demand for Australian coking coal softens.<\/span>\u00a0<\/span><\/p>\n

With the re-escalation of the trade war between China and the US, the Chinese government will most likely be prone to providing further economic support to domestic industries, especially the infrastructure sector, which would buoy steel production and ultimately coking coal demand,\u00a0Fitch<\/i>\u00a0predicts.\u00a0\u00a0<\/span><\/p>\n

Indicators show that, while the largest importer of Australian coking coal, India, saw a 11.7% y-o-y decline in coking coal imports from Australia in Q119, China,\u00a0the second largest importer of Australian coking coal,\u00a0increased imports by 35% y-o-y in the same period.\u00a0<\/span><\/p>\n

Long-term\u00a0outlook\u00a0\u00a0<\/span><\/h3>\n

Beyond 2020,\u00a0Fitch<\/em>\u00a0expects\u00a0Australian coking coal prices to\u00a0continue on\u00a0a multi-year downtrend, driven largely by a resumption in the slowdown of the Chinese steel sector and environmental concerns limiting coal imports.\u00a0<\/span><\/p>\n

Production\u00a0outlook\u00a0<\/span><\/h3>\n

Fitch<\/i>\u00a0forecasts that\u00a0China will maintain its dominance in the producers’ market for coking coal, with absolute coking coal production increasing from 536mnt in 2019 to 551mnt by 2028, with production in 2028 being triple that of the second-largest producer, Australia (184mnt).\u00a0<\/span><\/p>\n

In 2026,\u00a0analysts predict that\u00a0Russia will surpass Indonesia as the third\u00a0largest coking coal producer in the world, and that over the years, China, Australia and Indonesia will slowly lose the global market share of coking coal production to Russia, India and Mongolia.\u00a0\u00a0<\/span><\/p>\n

Read the full report here.\u00a0<\/a><\/span><\/p>\n

The post Coking coal price to remain elevated in 2019\u2014 report\u00a0\u00a0<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

On the supply side, Fitch expects production misses from Australia to keep the market tight in the coming quarters as large diversified miners lose their appetite for mining coal. <\/p>\n

The post Coking coal price to remain elevated in 2019— report  <\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[419,404,369,428],"tags":[15,30],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1117821"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1117821"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1117821\/revisions"}],"predecessor-version":[{"id":1117822,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1117821\/revisions\/1117822"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1117821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1117821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1117821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}