Cement News tagged under: oil
Coal sharply lower after Chinese price intervention, petcoke discounts turn negative as petcoke price remains stable19 November 2021, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The euro holding tight US$1.15-1.17 trading range in the wider US$1.15-1.20 range. Table 1: Prices at a glance Crude oil (US$/bbl) 83.25 Coal API2 – 1Q22 (US$) 125.00 API2 – Cal 2022 (US$) 125.00 API4 – 1Q22 (US$) 122.00 API4 – Cal 2022 (US$) 105.00 Petcoke USGC 4.5% 40 HGI ... |
Petcoke market stable, but coal to see return to normality?29 October 2021, Published under Cement NewsFollowing on from ICR’s most recent energy report , the coal rally was at an all-time high but is now experiencing a sharp retracement down due to demand destruction and forecasts of a warmer winter. It remains to be seen whether there are upside risks or whether there will be a correction to return to “normality”. Meanwhile, the petcoke market is steady due to increased demand from India and Turkey, based on discounts. The discount for petcoke FOB 6.5 per cent sulphur when compared with... |
Coal rally continues amid high European gas prices29 September 2021, Published under Cement NewsSince ICR’s most recent energy report , the coal rally continues, driven by high prices for gas and CO2 allowances in Europe. Coal prices for the 4Q22 are currently at US$163/t for API2 and US$159/t for API4 coal.CO2 allowances for December 2021 were valued at EUR60.00. Meanwhile, the price of Brent oil stood at US$75.25/barrel. With the supply of petcoke down after hurricanes, the petcoke illiquid market pushed higher. Petcoke prices for USGC 6.5 per cent reached US$122/t while the price... |
Coal rallies to 2009 highs – increased demand for petcoke as discounts widening – oil stable17 September 2021, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The euro tested the lower range but remains bound between US$1.17-1.20. Focus on signs of change in the Fed or ECB’s interest policies. Table 1: Prices at a glance Crude oil (US$/bbl) 72.50 Coal API2 – 4Q21 (US$) 163.00 API2 – Cal 2022 (US$) 124.00 API4 – 4Q21 (US$) 156.00 API4 – Cal 2022 (US$) ... |
Coal rally reaches 2011 highs while petcoke discounts up to 37%27 August 2021, Published under Cement NewsBy Brannvoll Aps, Denmark Following on from ICR’s most recent energy report , the coal rally has now reached levels comparable the highs of 2011, leading to more supply distortions. Petcoke FOB contracts are dragged up close to all-time highs with only a few deals available. Discounts for petcoke FOB (USGC 6.5 per cent, 40 HG/API 4) have increased to 37 per cent. However, freight rates have continued to climb, putting a lid on FOB prices to some extent. Additional context i... |
Sharp coal rally drives petcoke higher to widen discounts – new demand fears and OPEC+ agreement sent oil falling16 August 2021, Published under Cement NewsBy Brannvoll Aps, Denmark The euro is seen in the US$1.17-1.20 range with the US infrastructure package expected to support the dollar in the short-term. As forecast, inflation fears evaporated but the expected turn in commodities did not occur due to continued bottlenecks in the opening economies. Table 1: Prices at a glance Crude oil (US$/bbl) 69.25 Coal API2 – 4Q21 (US$) 132.00 API2 – Cal 2022 (U... |
Brent oil prices expected to average US$62/bbl in 202025 February 2020, Published under Cement NewsBrent oil is forecast to average US$62/bbl in 2020 on the back of voluntary (Saudi Arabia, Kuwait, UAE) and involuntary (Iran, Venezuela) declines in OPEC supply, according to a Bank of America (BofA) Global Research report. OPEC supply is expected to decline 1.2mbpd from the 4Q19 into the 4Q20, however, a roughly stable output is then seen through to 2025. The BofA report also projects Brent oil prices to average between US$50-70bbl from now until 2025. "As prices become more anchored arou... |
Key risks to near-term oil price06 June 2019, Published under Cement NewsGlobal oil demand is growing at its weakest rate since 2012 while global oil supply disruptions continue to be at their highest levels in almost 30 years, according to Bank of America Merrill Lynch (BoAML). Key risks to the oil price remain with US trade wars and tensions with Iran affecting demand and supply, respectively. In addition, the bank also highlights the “ultimate ultra-bearish scenario” where China relinquishes trade negotiations, ignores US sanctions and proceeds to purchase Ira... |
Are lower coal prices what the cement industry needs?29 April 2019, Published under Cement NewsThis week ICR takes a look at the downward trend in coal prices and discusses whether cement producers will benefit from the drop in prices or whether the cement sector should be looking more at sustainable long-term fuel options. Coal prices cool Morgan Stanley reports that April's data of Newcastle and Atlantic Basin prices has seen thermal coal retreat by 23-30 per cent YoY, as evidenced by the key contract between global mining company Glencore and Japan's Tohoku Electric Power, end... |
Geopolitics and tightening supply to impact oil prices in 2018-1918 May 2018, Published under Cement NewsGlobal oil supply and demand balances are expected to tighten over the next 18 months, driven by the continued collapse of Venezuelan output, according to Bank of America Merrill Lynch (BOAML). A collaboration between OPEC and Russia to set a floor on oil prices with a reduction of oil output cuts by these countries of 450,000bpd from 3Q18 to 4Q19 is also expected to play its part in squeezing availability. In addition, higher interest rates and a stronger US dollar are forecast provide near... |