Trafigura sees higher thermal coal prices, 3-5% supply shortage in 2022 www.nasdaq.com/articles/trafigura-sees-higher-thermal-coal-p…
Global commodities trading firm Trafigura expects thermal coal prices to remain high in the near term due to an estimated supply shortage of 3-5% in 2022, a senior executive said on Tuesday. Prices of thermal coal, typically used to generate electricity, have shot to record highs due to increased buying by Europe as sanctions on Russia have cut off the bulk of its gas supplies.
“On a fundamental basis, it looks to be very strong for coal. The supply constraints are for real,” said Siddharth Choudhary, head of thermal coal for Trafigura in the Middle East, North Africa and Indian Ocean region.
“While demand has increased post-COVID, supply has not been able to pick up to meet demand,” Choudhary said…
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Trafigura sees higher thermal coal prices, 3-5% supply shortage in 2022
FRANKFURT, Jan 14 (Reuters) - Germany's hard coal imports in 2022 could rise 7.7% on the year to 42 million tonnes due to economic recovery, high prices of rivalling gas **and the need to compensate for the closure of nuclear power plants**, industry association VDKi said on Friday.Jan 14, 2022
EU countries hunt for global coal stocks as Russian ban looms www.reuters.com/business/energy/eu-countries-hunt-global-coa…
European buyers are increasing shipments of coal from across the globe against a backdrop of a proposed European Union ban on Russian imports and the scramble to relieve tight gas supplies, according to data and shipping sources.
The European Commission on Tuesday proposed new sanctions against Moscow over its invasion of Ukraine, including a ban on buying Russian coal and on Russian ships entering EU ports…
In March, European countries imported a total of 7.1 million tonnes of thermal coal, which is used in power and heat generation, a 40.5% increase year-on-year…“Shipments from Colombia and the United States have been strong in response to the conflict with Atlantic suppliers providing the most cost-efficient alternative for European end-users.”