Contact us Already a Member? It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Click here to contact us. Please Paste this Code in your Website. Coal is the major fuel used for generating electricity worldwide. The biggest producer and consumer of coal is China. Our coal prices are intended to provide you with a reference only, rather than as a basis for making trading decisions.
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API users can feed a custom application. The overall decline in global coal demand in has turned out to be lower than was estimated in the early months of the year as the pandemic spread and intensified around the world.
This can be attributed to a smaller decrease in global electricity demand than was predicted earlier in the year and to the robust economic recovery in China, where more than half of global coal is consumed. A decline of this size over a two-year period is unprecedented in IEA records, which go back as far as Based on the assumption of a global economic recovery in , we expect both electricity demand and industrial output to increase.
As a result, we forecast a rebound in global coal demand of 2. Higher natural gas prices and electricity demand are set to slow the structural decline of coal use in the European Union and the United States, which both might see their coal consumption grow for the first time in nearly a decade.
By , global coal demand is forecast to flatten out at around 7. Trends are expected to vary by region over the next five years. In Europe and North America, coal continues its decline after a temporary uptick in India and some other countries in South and Southeast Asia are forecast to increase coal use through as industrial production expands and new coal-fired capacity is built. In India, however, the demand outlook to is considerably lower than it was a year ago as a result of the pandemic.
In , some countries made pledges that involve reducing coal use in the coming years Korea, Japan , downsizing planned coal expansion Viet Nam, Bangladesh, Philippines , and cancelling plans for coal development Egypt. China and India — the two most coal-reliant major countries — are taking steps to ensure adequate coal supply to fuel their economies and rein in imports.
In China, the government is continuing efforts to increase the competitiveness and profitability of the coal sector. These companies, together with China Energy Investment Corporation, will produce more than 1 billion tonnes of coal each year. In India, the government intends to transform its coal sector by increasing efficiency and competitiveness, and, notably, by introducing commercial mining.
In November , 50 million tonnes of annual coal mining capacity was allocated via an auction process. Some of the big US mining companies are now increasingly shifting away from thermal coal, which is mostly used for power generation, and focusing on metallurgical coal, which is mainly used in iron and steel production. The international coal trade was seriously disrupted in by the Covid crisis. New import quotas in China compounded the uncertainty in the coal trade.
Imports in India and Europe experienced the largest drops, but they also declined in Japan, Korea and elsewhere. Coal supplies of elasticities in a major task in itself. The literature these countries may also be constrained by labor shows considerable variation in demand elasticities, availability and the implementation of central plans. Even used for generating electricity. Since there are few with specific controls like South Africa or con- substitutes for met coal, its demand elasticity is quite trolled economies like Poland , there is often some small, about There are good substitutes in market response.
Exports about - 1. When they research on coal demand. Overall demand elasticity did, the quota was raised to 44 million and then to is calculated as a weighted ratio of average coal 88 million tons Wilkinson, , , Elasticities for countries in the U. Foreign prices and elasticities U.
Africa 0. Germany 0. Korea 0. Suppose that the coal demand increases, due U. Without capacity constraints, supply sources. Table 1 presents the ratio of the U. With delivered price. This ratio varies from 0.
These parameters lead to the demand elasticity In effect, the supply of port services is totally ine- for U. Coal demand in each of the 18 coun- lastic at Qc. First, tries which make up the U. From 6b. It is used below termined by the constrained quantity, the supply in calculating bottleneck costs. Assume that port services demand and supply have the forms: 2. In Consider the demand for port services Do , such Baltimore, for example, there was some barging of small that Qc tons of coal are shipped, where Qc represents amounts of coal at very high marginal costs.
This short- term expedient was dropped after the first year of the bot- tlenecks. Alternative shipping routes through the St. Law- TReasonable rates are assumed in the calculations for rence Seaway also presented very expensive means of in- countries not included in the source publication.
LESZE parameters. In equilibrium. Since optimal waiting time is probably positive, not all of the waiting times should be included as Deadweight loss. L, is calculated as the integral economic losses. Further, many vessels were not un- of the difference between the demand and supply der charter. This is normal operation. We calculate value added using market information about the goods in transit. If free- 3. Data are Es elasticities, value of waiting time demurrage , not always so convenient, but the approach allows and value of port services, T.
The elasticity of port the use of secondary data to approximate value demand E, was estimated above as The added. Consider steam coal exports. The fob ship price Table2. Had capacity ex- calibrated. As a result: overstates the size of the deadweight loss. If buyers could catch up by in- The calculated demand elasticities refer to coal creasing future orders, the calculated losses may be transported from the United States as a whole.
Most overestimated. Since both ports reached 4. Port congestion costs may not be the most appro- Since supply elasticities are not available, plausi- priate investment criteria since the congestion was ble values will be assumed.
If port facilities are avail- due in part to short-term problems. Since port fa- able, the supply elasticities are probably quite high, cilities represent long-term investments, it is nec- although not infinite, as shipping and railroad costs essary to forecast the long-term demand for U.
At Qc, supply is coal as well.
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