AUSTRALIA MET COAL EXPORTS TO GROW 6% IN 2013
Tuesday, July 2, 2013
Australia met coal exports to grow 6% in 2013 Saturday, 29 June 2013 | 00:00 Australian Bureau of Resources and Energy Economics has forecast a six percent YoY rise for Australian met coal exports in 2013. The metallurgical coal exports of Australia, the world's largest exporter of metallurgical coal, are forecast to amount to 153 million tonne in the current year. In 2014, exports are forecast to increase by a further 10% to total 168 million tonne. Higher levels of exports are expected to be supported by production from a number of mines that are scheduled to start up in 2013, such as Anglo Coal's Grosvenor underground mine and BHP Billiton Mitsubishi Alliance's Daunia mine. BREE reports that contract prices for high quality metallurgical coal for delivery in the Q2 of 2013 were settled at around USD 172 per tonne, increasing from USD 165 per tonne in the first quarter. Contract prices are forecast to average at USD 162 per tonne for 2013 as a whole due to continued weak spot prices. According to BREE, average contract prices for 2014 are forecast to remain at around USD 160 per tonne. In 2013, China's metallurgical coal imports are forecast to increase by 16% a year to reach 61 million tonne. Following a dip in imports in 2012, India is forecast to return to an uptrend in imports in 2013 and 2014, with India's imports forecast to total 23 million tonne in 2014. Imports into Japan are forecast to increase marginally over 2013 and 2014 to total 54 million tonne in 2014. Source: Steel Orbis
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