Australian coal exports to hold up, despite tensions

One of the latest casualties of heightened China-Australia geopolitical tensions is Australian coal exports. But we think that this will have limited implications for demand and prices as, for the most part, coal should be re-directed to other countries.
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Energy Data Response

US Weekly Petroleum Status Report

A large fall in the refinery utilisation rate drove another increase in stocks last week, although utilisation rates are normal for the time of the year. And with output set to remain constrained until at least early next year, already-high crude prices should remain elevated for the next few months.

14 October 2021

OPEC Watch

OPEC Monthly Oil Market Report (Oct.)

OPEC moved closer to its collective target output last month. However, it is now clear that if the group were to answer calls to raise output, it would involve abandoning the current quota system and allowing a few producers with available capacity to produce more.

13 October 2021

Energy Update

Natural gas prices now untenably high

The price of European natural gas (TTF) surged by around 35% this morning, before crashing back down on Putin’s reassuring comments about Russian supply. The latest price moves appear speculative, and we retain our view that it is just a matter of time before supply and demand adjust to bring prices back down.

6 October 2021

More from James O'Rourke

Metals Data Response

Global Steel Production (Feb.)

Growth in global steel production declined in February y/y. And though base effects will distort growth rates for a while yet, we reckon that China’s steel output growth will start to slow before long.

23 March 2021

Metals Data Response

Global Aluminium Production (Feb.)

Average daily global aluminium production inched up in February. And with ShFE and LME prices at multi-year highs, we expect production to continue growing in 2021.

22 March 2021

Industrial Metals Update

Tsingshan news to cap nickel price

News on a potential breakthrough in the supply of nickel matte from Tsingshan has dampened nickel prices. Rather than a step-change in nickel market supply, we reckon that this development will simply act as a structural drag on the nickel price.

17 March 2021
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