Australia Coal and Laos Power: Operational and Financial Summary
CHINA
China thermal coal market review
CHINA THERMAL COAL IMPORTS/EXPORTS*
Unit: Mt
235
252
229
178
156
137
136
■Import
18
11
8
6
5
4
4
2010
2011
2012 2013 2014 2015
2016F
Sources: Banpu MS&L Estimates
CHINA ANNUALIZED ACTUAL IMPORT IQ13-4Q15*
Unit: Mt
251 242 244 270 284
232
199 201
153 160 167 145
Import
7 4
4
5
2 5 5 4 ■ Export
7765
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15
CHINA DOMESTIC COAL PRICES
Unit: RMB/t
-> 5,800 kcal/kg
> 5,500 kcal/kg
1,000
800
600
400
200
May-12
Jul-12
Sep-12
Nov-12
Jan-13
Mar-13
May-13
Jul-13
Sep-13
Nov-13
Jan-14
Jall 14
Mar-14
May-14
Jul-14
Sep-14
Source: www.sxcoal.com/cn 17 February 2016
Note: *includes anthracite and lignite imports/exports
BANPU
■ Export
Nov-15
Jan-16
403
369
331
COMMENTS
■The reduction of energy consumption per
unit of GDP, combined with air pollution
control measures, points to a weaker trend in
overall energy demand growth.
■
» Installed hydropower capacity is expected to
continue moderate growth in 2016 while coal
loses generation share
Protectionism will continue with risk of new
measures to assist domestic coal producers.
■ RMB depreciation is likely to continue
"
Coal prices are under pressure due to severe
capacity overhang in coal industry and cost
cutting
■ Coal industry reform is expected to move
slowly to avoid social unrest
■Thermal coal imports face greater challenge
from the government's air pollution control
measures and the continuing development of
ultrahigh-voltage transmission lines which
will reduce coal demand in coastal area.
-> 5,000 kcal/kg
Nov-14
Jan-15
Mar-15
May-15
Sep-15
29
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