Coking coal price close to $300 a tonne on Australian disruptions
Coking coal prices closed the week 86% higher, climbing 34% on Friday alone to $283.10 a tonne, after damage caused by a cyclone that struck Australia’s north-east coast in late March has put supply at risk.
Mongolian Mining Chapter 15 Bankruptcy Restructuring
Ulaanbaatar, Mongolia-based Mongolian Mining filed for Chapter 15 protection with the U.S. Bankruptcy Court in the Southern District of New York, case number 17-10695. The Company, which engages in mining, processing, transportation and sale of coal products in Mongolia, is represented by Timothy E. Graulich of Davis Polk & Wardwell.
China’s coal consumption keeps plummeting, down for 3rd year in a row
China’s coal consumption dropped in 2016 for a third year in a row, official data showed Tuesday, as the world’s top consumer and producer of the fossil fuel continued tightening environmental rules aimed at dealing with pollution.
China’s coal imports from North Korea ease after sanctions
China’s coal imports from North Korea eased last month after new U.N. Security Council sanctions curbing the isolated country’s sales abroad came into effect, while Russia, Mongolia, Australia and Indonesia raised shipments, data showed on Friday.
Aspire Mining signs agreement for the advancement of Ovoot railway
Mongolian metallurgical coal explorer and infrastructure company, Aspire Mining Limited, has, through its rail subsidiary, Northern Railways LLC (Northern Railways), signed a Memorandum of Understanding (MOU) with Ulaanbaatar Railways JSC (UBTZ) to cooperate on a number of matters to progress the commercialisation of the Erdenet to Ovoot Railway.
China may tighten up coal output curbs again as prices collapse
China may soon reinstate coal production curbs in an effort to avoid the return of an oversupply and improve the profitability of its heavily indebted coal industry.
Coking coal resumes sharp decline
After a pause last week (and even a small move higher) following 12 weeks of non-stop selling, the rout on coking coal markets resumed on Tuesday. The steelmaking raw material fell 4.7% to $154.80 on the day, the lowest since early September.
Ingenious clean coal plant could give new life to coal
NRG Energy and JX Nippon Oil & Gas Exploration Corp. have successfully developed a power plant that runs entirely on clean coal. The Petra Nova power plant located in Texas was activated on January 10th and is the first of its kind in the United States to be used to power the grid. The facility [...]
Coking coal’s bubble deflates, China’s imports from North Korea remain key: Russell
If you wanted to see what a speculative commodity bubble looks like, then coking coal’s huge rally in the second half of last year and subsequent retreat provides a good example.
In latest move, China halts over 100 coal power projects
China’s energy regulator has ordered 11 provinces to stop more than 100 coal-fired power projects, with a combined installed capacity of more than 100 gigawatts, its latest dramatic step to curb the use of fossil fuels in the world’s top energy market.
RSI Review on Shares of Mongolian Mining Cor
Investors are tracking indicators on shares of Mongolian Mining Cor (MOGLF). The current 14-day RSI is 50, the 7-day is at 43.77, and the 3-day is resting at 31.3. Many investors look to the Relative Strength Index (RSI) reading of a particular stock to help identify overbought/oversold conditions. The RSI was developed by J. Welles [...]
Coking coal price crashes through $200
It’s only been a week of trading, but the year to date fall in the price of coking coal has already reached 17%. The steelmaking raw material is also now $120 below its multi-year high of $308.80 per tonne (Australia free-on-board premium hard coking coal tracked by the Steel Index) hit in November.
Erdenet to Ovoot Railway determined feasible
Mongolian metallurgical coal explorer and infrastructure company, Aspire Mining Ltd, has, through its rail subsidiary, Northern Railways LLC (NR), received the first stage feasibility study from China Railway First Survey and Design Institute Group Co. Ltd (FSDI) for the Erdenet to Ovoot Railway in Mongolia.
Coking coal price correction turns into rout
It’s only the 5th, but the year to date fall in the price of coking coal has already reached 8%. The steelmaking raw material is also a round $100 below its multi-year high of $308.80 per tonne (Australia free-on-board premium hard coking coal tracked by the Steel Index) hit in November.
China to plow $360 billion into renewable fuel by 2020
China will plow 2.5 trillion yuan ($361 billion) into renewable power generation by 2020, the country’s energy agency said on Thursday, as the world’s largest energy market continues to shift away from dirty coal power towards cleaner fuels.
China coal output, demand to rise even as excess under fire
China expects coal output and demand to increase by 2020 even as it aims to cut 800 million tonnes of outdated capacity as the world’s largest consumer of the fuel ramps up years-long efforts to tackle smog and make its manufacturing sector more efficient.
Mongolia Nov coal exports hit a record high
Coal-rich Mongolia exported 3.81 million tonnes of coal in November, soaring 77.97% from 2.14 million tonnes in October this year, hitting a record high, showed data from the Mineral Resources Authority of Mongolia.
Who is saving Mongolia’s collapsing economy? China imports Mongolia coal doubled
There is no doubt that China is the Saviour of the collapse of Mongolia.
Massive Mongolia coal deposits could revive its flagging economy
Former frontier market darling Mongolia has had a tough time in a world of low commodity prices, with its government struggling to make ends meet, but a spike in global coal prices could see the country stage a comeback.
China bans North Korean coal- but only till January
Fresh UN sanctions against North Korea aimed at punishment for a nuclear test in September will be honoured by China, the reclusive regime’s most important trading and diplomatic partner.
Coking coal price savaged – biggest drop in 17 months
While the price of futures trading in China and Singapore were swinging wildly in recent weeks, the benchmark for the seaborne market – Australia free-on-board premium hard coking coal tracked by the Steel Index – seemed to consolidate above $300 a tonne.
World’s longest traffic jam points to Mongolia recovery
Over 60 kilometers, they line up: truck after truck, after truck. Nearly every one of them is laden with coal.
Coking coal surge may extend if China cracks down on North Korea
The already elevated price of coking coal could be boosted further if China decides to crack down on coal imports from its nuclear-armed neighbor North Korea.