Business is booming.

China coal futures rise after Indonesia export ban

122


Chinese coal futures rose on Tuesday ahead of a review of an export ban announced last week by Indonesia, one of the world’s largest exporters of the fossil fuel, stoking fears of knock-on effects for the global economy.

The most active contract traded on the Zhengzhou Commodity Exchange rose as much as 8 per cent on Tuesday compared with its Friday closing price, with several other contracts also up more than 6 per cent at midday.

Indonesia’s state utility provider said on Monday that the country’s coal supply situation was facing a “critical period”. This followed an energy ministry announcement at the weekend that the government would seek to ban coal exports for the month of January.

The energy ministry said the ban would help to avoid outages at power plants run by the state utility PLN. The ban has fuelled fears of further increases in commodity prices after pandemic-led supply shortages around the world.

As well as being China’s largest foreign source of coal, Indonesia is also an important supplier to India and south-east Asia. The country provided a record of more than 21m tonnes of coal to China in September, up from 17m in August.

“The move could potentially have knock-on effects in China and India, which are the usual destinations for Indonesian coal,” said Warren Patterson, head of commodities strategy at ING.

Coal prices in China have been particularly volatile during the pandemic, with futures surging to as much as Rmb2,301 ($362) in October as the country’s economic recovery increased demand while lockdowns to combat the Delta coronavirus variant crimped supply. That compared with about Rmb700 for most contracts traded in Zhengzhou on Tuesday.

Coal prices in China later dropped after Beijing introduced measures including instructing domestic miners to increase production.

In a statement on Monday, PLN said it had received commitments for an additional 3.2m tonnes of coal for its plants in January with help from the government. But it said it needed a total of 5.1m additional tonnes to avoid widespread outages in the country.

It warned that ensuring supply was in the “national interest” and should be “prioritised” ahead of a review of the ban by ministers on Wednesday.

President Joko Widodo said supplying PLN was “a must” and called on coal producers to fulfil domestic needs before exporting.

Twice weekly newsletter

Energy is the world’s indispensable business and Energy Source is its newsletter. Every Tuesday and Thursday, direct to your inbox, Energy Source brings you essential news, forward-thinking analysis and insider intelligence. Sign up here.

Analysts at Morgan Stanley said the potential loss of Indonesian coal exports, which account for about 40 per cent of the so-called seaborne market, could trigger a similar coal price rise to that of October.

At that time, the price of high-energy Australian coal, the benchmark for the Asian market, rose to a record of more than $270 a tonne. It is at present trading at about $150 a tonne.

“That said, the export ban could still be reassessed/fine-tuned, with a meeting between the government and miners scheduled for 5 January,” said the Morgan Stanley analysts.

Shares in Whitehaven Coal, one of Australia’s largest independent coal suppliers, rose 5.8 per cent to A$2.76 on Tuesday on news of Indonesia’s ban. London-listed Glencore, which also operates coal mines in Australia, gained as much as 3.3 per cent in morning trading.



Source link

122 Comments
  1. free Windows 7 key says
  2. nevşehir escort says

    Just desire to say your article is as amazing.
    The clearness to your publish is simply excellent and that i could assume you are an expert
    in this subject. Well with your permission allow me to grasp your RSS feed to stay up to date
    with impending post. Thank you 1,000,000 and please continue the enjoyable work.

  3. Why Are CBD Vape Pens So Popular? says

    Choose tօ Buy Why Are CBD Vape Pens So Popular? Chocolate tһаt Can Be A Yummy Treat аs Well

  4. marizonilogert says

    Hello there! I know this is kinda off topic but I’d figured I’d ask. Would you be interested in trading links or maybe guest writing a blog article or vice-versa? My site addresses a lot of the same subjects as yours and I believe we could greatly benefit from each other. If you might be interested feel free to shoot me an e-mail. I look forward to hearing from you! Great blog by the way!

  5. JasonVow says
  6. Edgarlab says
  7. BooVow says
  8. YonVow says
  9. TedVow says
  10. EvaVow says
  11. WimVow says
  12. Uhgthy says

    levofloxacin pills levaquin 500mg canada

  13. Zcidfw says

    buy avodart 0.5mg pills avodart price zofran 4mg for sale

  14. Ptfuji says

    purchase spironolactone generic diflucan online order diflucan 200mg generic

  15. Ctzvxd says

    order ampicillin 500mg for sale ampicillin for sale purchase erythromycin pill

  16. Mcqplb says

    sildenafil over the counter buy nolvadex 20mg pill methocarbamol 500mg uk

  17. Dhtvis says

    order sildenafil for sale buy estrace 2mg online order generic estrace

  18. Wqkmmf says

    order lamotrigine 50mg online cheap prazosin price buy tretinoin cream online cheap

  19. Dmgjwq says

    purchase tadalis for sale order tadalafil generic diclofenac 50mg without prescription

  20. Upaxdr says

    order isotretinoin 40mg sale order azithromycin 250mg without prescription azithromycin 500mg pills

  21. Zswius says

    indocin price indocin price order amoxicillin 250mg pill

  22. Owzfpi says

    buy cialis without prescription tadalafil 10 mg viagra 100mg england

  23. Sgyyzq says

    buy anastrozole without prescription biaxin buy online buy viagra 100mg generic

  24. Hchamh says

    vrai cialis 20mg prix sildenafil 200mg pour homme sildenafil pas cher

  25. Uhybke says

    order deltasone 20mg generic deltasone 20mg for sale order viagra without prescription

  26. Ohvggl says

    cialis 5mg kaufen generika tadalafil 20mg kaufen viagra 200mg kaufen für männer

  27. Vqqdms says

    brand isotretinoin order stromectol 6mg generic purchase ivermectin

  28. Dgrgpc says

    purchase doxycycline pills buy clomiphene pills purchase lasix pill

  29. Vyduhu says

    order ramipril 10mg online purchase temovate for sale astelin for sale online

  30. Eepqwh says

    clonidine sale catapres 0.1mg tablet order spiriva 9mcg online cheap

  31. Lacegb says

    buspar 5mg cost purchase phenytoin order oxybutynin 2.5mg sale

  32. Tfkfjk says

    order hytrin pill pioglitazone cost buy sulfasalazine 500mg pills

  33. Dmmgtj says

    fosamax 70mg price alendronate 35mg oral order famotidine 20mg pills

  34. Fcdtuk says

    order benicar generic divalproex 500mg sale buy diamox online cheap

  35. Scqybd says

    order tacrolimus 5mg online cheap buy urso 150mg online cheap buy urso 300mg without prescription

  36. Hxkdul says

    purchase imdur sale isosorbide 20mg without prescription telmisartan drug

  37. Clzwqc says

    buy generic bupropion 150mg buy cetirizine 10mg online quetiapine usa

  38. Sbgfzd says

    molnunat 200mg without prescription order naprosyn 500mg pill order lansoprazole 15mg for sale

  39. Xtgpdv says

    cost zoloft 100mg buy escitalopram 10mg without prescription buy viagra pills

  40. Ultply says

    buy salbutamol without prescription sildenafil 100 mg viagra ca

  41. Hbvhga says

    cialis for sale online Cialis fast delivery usa buy viagra 50mg for sale

  42. Jrigzp says

    tadalafil 20mg cheap order generic pyridium amantadine 100mg tablet

  43. Adfmyi says

    buy naltrexone pill buy abilify 20mg for sale buy aripiprazole 20mg

  44. Rhvvau says

    buy medroxyprogesterone sale cyproheptadine online order periactin 4 mg sale

  45. Xtefry says

    provigil 100mg usa stromectol 6mg for sale cost of ivermectin

  46. Evxnwm says

    buy fluvoxamine 100mg generic ketoconazole order online glipizide 10mg canada

  47. Vzaygx says

    order generic piracetam oral viagra 50mg viagra pharmacy

  48. Kzvitw says

    zithromax 250mg usa order azithromycin 500mg for sale oral neurontin

  49. Jcscax says

    order cialis 5mg pill sildenafil 50mg price sildenafil uk

  50. Jfpkjj says

    buy furosemide 40mg for sale oral doxycycline 100mg hydroxychloroquine 200mg sale

  51. Kpyivm says

    tadalafil without prescription buy anafranil clomipramine us

  52. Lhkgkh says

    chloroquine 250mg drug purchase cenforce online cheap olumiant price

  53. Dzffqw says

    oral sporanox 100 mg buy tinidazole generic buy tinidazole sale

  54. Jkpfce says

    buy metformin 1000mg for sale glycomet 500mg us cialis price costco

  55. Pemorq says

    cheap olanzapine 10mg buy generic nebivolol 20mg buy diovan 80mg sale

  56. Vkgbld says

    amlodipine 10mg over the counter tadalafil 20mg us buy tadalafil 5mg pill

  57. Oqdzir says

    clozapine 100mg pills order clozaril 50mg pill cost decadron

  58. Phmppm says

    cost omeprazole professional research paper writers roulette wheel online

  59. Ufrech says

    order linezolid 600 mg online blackjack gambling gambling site

  60. Cpneae says

    cheap essay writing online gambling real money poker online for money

  61. Xtxldr says

    order levitra 10mg for sale medrol 8 mg oral medrol 8 mg for sale

  62. Bkgmzp says

    help me with my research paper academic writing article viagra 100mg over the counter

  63. Kqhill says

    clomid online ventolin inhalator price global poker online

  64. Gebguq says

    tadalafil 5mg drug oral sildenafil sildenafil otc

  65. Dysmcd says

    order triamcinolone 4mg without prescription order aristocort generic desloratadine cheap

  66. Uicewp says

    order generic priligy 30mg dapoxetine over the counter cheap levothyroxine for sale

  67. Urdjvc says

    cialis 5mg sale purchase viagra for sale viagra 50mg pill

  68. Pbrhdu says

    buy orlistat without prescription orlistat 60mg without prescription acyclovir 800mg without prescription

  69. Oqflav says

    tadalafil us propranolol for sale cost clopidogrel 75mg

  70. Fkdmbf says

    buy allopurinol 300mg generic purchase crestor generic cheap ezetimibe 10mg

  71. Oabkcj says

    purchase methotrexate without prescription order methotrexate 5mg for sale reglan 20mg us

  72. Ordhbj says

    buy motilium 10mg generic buy domperidone 10mg generic purchase flexeril pill

  73. Awlnbd says

    cozaar without prescription order cozaar 50mg generic buy topiramate 100mg online cheap

  74. Rjnfvx says

    buy ozobax without prescription generic tizanidine toradol 10mg canada

  75. Cqaynp says

    cost sumatriptan 25mg buy imitrex 25mg pill avodart ca

  76. Apojby says

    cost zantac 150mg meloxicam 15mg drug order celecoxib 100mg pill

  77. Phmrau says

    online roulette for real money casino bonus real money poker online

  78. Ylwjdc says

    order tamsulosin 0.4mg generic tamsulosin 0.4mg cheap spironolactone 25mg generic

  79. Jpkxql says

    tadalafil 40mg ca cost acillin buy cipro 500mg online cheap

  80. Sekggb says

    buy zocor online cheap purchase simvastatin online cheap buy finasteride 5mg generic

  81. Zeiown says

    fluconazole 100mg uk cheap sildenafil generic sildenafil 100mg usa

  82. Bwsgpz says

    buy keflex 250mg online keflex 500mg ca erythromycin online buy

  83. Ubpvia says

    cialis 10mg uk oral tadalafil 20mg viagra 50mg generic

  84. Fszbqo says

    order viagra 100mg sildenafil over counter order cialis 40mg for sale

  85. Orlpju says

    order ceftin 250mg online cheap cefuroxime 500mg without prescription purchase robaxin without prescription

  86. Nolmfu says

    play roulette buy cialis 10mg online cheap order cialis 40mg generic

  87. Qhfabt says

    buy generic trazodone buy sildenafil for sale buy generic sildenafil

  88. Cytnsp says

    need a paper written buy stromectol 6mg generic ivermectin rx

  89. Dhfglt says

    cheap sildalis viagra sildenafil buy generic lamictal 200mg

  90. Ciasyw says

    order prednisone 10mg pills buy prednisone 10mg pill generic amoxicillin

  91. Emvpyj says

    zithromax 250mg cheap prednisolone 40mg us order neurontin online

  92. Zujuix says

    play live poker online stromectol 6mg ca modafinil 100mg price

  93. Bhieze says

    lasix for sale furosemide 40mg pills cheap plaquenil 400mg

  94. Opqkjr says

    buy prednisone generic order prazosin 1mg generic order generic vermox 100mg

  95. Jfmmff says

    sildenafil 50mg generic nolvadex generic rhinocort oral

  96. Chpclu says

    retin gel for sale buy avana 200mg avana brand

  97. Nysdyg says

    tadalafil over the counter tadalafil medication indocin 50mg tablet

  98. Mvabpq says

    biaxin order meclizine 25 mg oral order meclizine 25mg generic

  99. Snseti says

    order naprosyn 500mg without prescription buy naprosyn 500mg lansoprazole pill

  100. Fzgjok says

    generic spiriva 9 mcg hytrin 1mg oral hytrin 5mg tablet

  101. Kzflnz says

    order albuterol without prescription pantoprazole drug cipro order

  102. Somlnl says

    pioglitazone for sale online sildenafil uk viagra for men

  103. Agaaei says

    montelukast order montelukast 10mg cost order viagra online cheap

  104. Zjoibg says

    cialis 20mg drug buy erectile dysfunction pills cialis super active

  105. Qgwsgn says

    blackjack poker online online casinos slots casino

  106. Utiskm says

    stromectol ivermectin tablets symmetrel cheap order avlosulfon pills

  107. Zkefxt says

    online casinos usa free slots cash poker online

  108. Sjnsyk says

    nifedipine price allegra 120mg brand order generic fexofenadine

  109. Vjnerk says

    free poker online games order medicine online online thesis writing

  110. Joznzq says

    buy a essay online arava 20mg tablet azulfidine for sale online

  111. Pkjdta says

    order benicar 10mg online cheap calan tablet divalproex 250mg pill

  112. Xenybn says

    buy mesalamine 400mg generic mesalamine 400mg tablet brand avapro 150mg

  113. Dqoavb says

    order generic priligy 60mg avanafil pills motilium 10mg for sale

  114. Tgxcuo says

    buy indocin 75mg pill order flomax 0.4mg generic purchase cenforce pill

  115. Zncxtm says

    buy tadalafil 10mg generic buy trimox 500mg pills trimox online buy

  116. Nplstt says

    purchase nexium online cheap buy furosemide 40mg sale cheap lasix

  117. Jtewyx says

    buy minocycline 50mg generic terazosin 5mg uk buy terazosin 1mg without prescription

  118. Uywrkj says

    glycomet cost glycomet oral nolvadex pills

  119. Vucmhi says

    buy serophene generic prednisolone 40mg cost order prednisolone 20mg online cheap

  120. Zgphhu says

    brand accutane 10mg isotretinoin 40mg generic purchase ampicillin online cheap

  121. Bhmyfg says

    ivermectin order deltasone 40mg order prednisone without prescription

  122. Vweiod says

    order isotretinoin 10mg pills accutane 20mg tablet order azithromycin 500mg sale

Leave A Reply

Your email address will not be published.