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Australia: Thermal coal exports remain stable m-o-m in Apr'24

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Non Coking

BigMint Bureau

279 Reads

3 May 2024, 16:39 IST

Australia: Thermal coal exports remain stable m-o-m in Apr'24

Australian thermal coal exports remained stable m-o-m to 15.63 million tonnes (mnt) in April 2024, as per BigMint's vessel line-up data. Moreover, exports rose by 4% as compared to 15.01 mnt in April 2023.

This stability was maintained despite scheduled maintenance closures by Aurizon, affecting the coal systems in Queensland. The blackwater coal system, with a capacity of 50 mnt/annum, underwent maintenance from 13 to 17 April 2024. Notably, demand saw a slight uptick this month, supported by declining prices. Prices for Australian thermal coal (5500 NAR) fell by 8% m-o-m to $88.25/t in April 2024, down from $96.4/t in March.

Country-wise exports

Australian thermal coal exports to China stood at 5.43 mnt in April, rose by 6% m-o-m. This figure accounted for almost 35% of total exports.

Exports to Japan dropped by 29% in the month under review, with shipments at 3.83 mnt. Exports to Taiwan totalled 1.73 mnt. Exports to South Korea rose by 18% during the month. Exports to South Korea in April stood at 1.21 mnt as against 1.03 mnt in March.

Exports to India rose by 24% during the month. Exports in April stood at 0.40 mnt as against 0.33 mnt in March 2024. Shipments increased following a train derailment in Richards Bay, South Africa, when consumers turned to buying Australian coal amid supply issues.The derailment happened on April 2, 2024, resulting in suspensions on three railway lines going to RBCT. Line 1 started operations on April 4, 2024, followed by Lines 2 and 3 in the evening of April 5, 2024.This is the second coal train derailment in South Africa since 2024, underscoring the vulnerability of the country's coal infrastructure.

Port-wise exports

Exports from Newcastle dropped by 6% m-o-m at 11.26 mnt in April as against 11.97 mnt in March. Shipments from Gladstone stood at 1.69 mnt in April as against 1.16 mnt in March.

Supplies from Abbot Point rose by 2% m-o-m to 1.19 mnt in April 2024 as against 1.17 mnt in March. However, exports from DBCT rose by 42% m-o-m to 1.08 mnt in April as against 0.42 mnt in February.

Outlook

Exports are projected to increase in the near term as demand for high-grade material is expected to pick up after the elections. Furthermore, Chinese buyers are currently away from the market due to labour day holidays and are expected to pick up next week amid restocking.