The Resources and Energy Quarterly report reveals that Asia's thermal coal trade is poised to surpass 2022 levels by 17%, primarily driven by China's record coal stockpiling amid energy security concerns. Chinese coal inventories have tripled, and despite a stated output reduction target, coal-fired power generation increased in 2023. Australian thermal coal exports to China experienced growth, reaching a peak during summer demand. While India's seaborne thermal coal imports dipped in 2023, the report forecasts an increase to 193 million mt by 2025, supported by industrial growth and higher electricity demand. Indonesia, the leading thermal coal exporter, faces supply challenges due to low river levels and growing competition from Australia and Russia. The report predicts a decline in thermal coal prices, yet remaining above 2019 levels, citing potential variations based on factors like Russian coal production and demand uncertainties.

SOURCE:GOOGLE