Power coal market is expected to 'rebalance' in 2020

According to S & P global Platts news, a London consulting agency recently released a long-term forecast that the global power coal market is expected to "rebound from the bottom" in 2020, and the global power coal supply contraction is expected to continue until the beginning of 2020, after which the global power coal market may be rebalanced. According to the analysis, coal demand in some Asia Pacific countries is expected to continue to rise, while that in Europe and the United States is expected to continue to decline, and the global power coal supply surplus situation will slow down in 2020. Data shows that the total export of U.S. power coal in 2018 is 49.1 million tons, while the total export of U.S. power coal in 2019 is expected to decline to 33 million tons, and the export of U.S. power coal in 2020 is expected to only maintain around 20 million tons. From the demand side, the agency believes that in 2019, 15 countries in the EU are expected to reduce the import of power coal to 72.3 million tons, down 25% year-on-year. At the same time, this year's total power coal import volume of Atlantic and Mediterranean countries is expected to drop to 130 million tons, down 24 million tons from 2018, and the total power coal import volume will further decline by 2020. On a global scale, only Vietnam, India and other Asian countries are likely to see a significant increase in coal imports, which is also an important factor for the "rebalancing" of the power coal market. According to the data, Vietnam's coal import volume is expected to reach 38 million tons this year, basically doubling from last year. This year, India and its surrounding Asia Pacific countries will also import a record 860 million tons of power coal, up 21.7 million tons from last year.