Research & Stock Picks

Company Reports

09 September 2024

By

Coal Weekly (09 September 2024): USD 142/ton (-2.2% WoW)

Recent Catalysts Driving the Price

  • Between 02 – 06 September 2024, coal prices averaged USD 141.6 (-2.2% WoW) as the global coal market faced increasing pressure due to various challenges.
  • With European coal consumption falling 8% year-on-year, global demand continued to weaken as the world is shifting to renewable energy. In Asia, coal imports fell 5%, partly due to the 4.2% rise in China’s 2Q24 domestic coal production. India’s plans to reduce coal usage by 10% over two years and Indonesia’s 2% potential export tax hike are also weighing on the market. In addition, industrial output in the US and Europe dropped 2.5% and 1.8%, reducing energy demand and further pressuring coal prices.
  • Given ongoing concerns about potential global economic slowdown and decreased world demand, we maintain our FY24 coal price forecast at USD 130/ton (YTD: USD 135.0/ton). Stock-wise, we prefer ADRO with TP of IDR 3,600 (FY24 P/E of 5.1x) as our top pick, primarily due to its green aluminum project set to commence in 2025.

Share This:

harga batubara tertekan

Download PDF

Download PDF

UPDATE_Coal_Weekly_20240909

Download PDF

UPDATE_Coal_Weekly_20240909

More Related

laba astra

Company Reports

Oct 15, 2024

Economic Reports

Oct 15, 2024

Technical Stock Analysis

Oct 14, 2024

Morning Briefs

Oct 14, 2024

Economic Reports

Oct 11, 2024

Technical Stock Analysis

Oct 11, 2024

Morning Briefs

Oct 11, 2024

Economic Reports

Oct 10, 2024

Morning Briefs

Oct 10, 2024

Technical Stock Analysis

Oct 10, 2024

Economic Reports

Oct 9, 2024

Technical Stock Analysis

Oct 9, 2024

Morning Briefs

Oct 9, 2024

Economic Reports

Oct 8, 2024

Technical Stock Analysis

Oct 8, 2024

Morning Briefs

Oct 7, 2024

Technical Stock Analysis

Oct 7, 2024

Economic Reports

Oct 4, 2024

Technical Stock Analysis

Oct 4, 2024

inflasi tahunan indonesia

Morning Briefs

Oct 4, 2024

Technical Stock Analysis

Oct 3, 2024

Morning Briefs

Oct 3, 2024

Economic Reports

Oct 2, 2024

Technical Stock Analysis

Oct 2, 2024

Morning Briefs

Oct 2, 2024

Economic Reports

Oct 1, 2024

bank jago

Company Reports

Oct 1, 2024

laba bank bmri

Company Reports

Oct 1, 2024

Economic Reports

Oct 1, 2024

Economic Reports

Oct 1, 2024

Technical Stock Analysis

Oct 1, 2024

Economic Reports

Sep 30, 2024

Technical Stock Analysis

Sep 30, 2024

Morning Briefs

Sep 30, 2024

Technical Stock Analysis

Sep 27, 2024

Economic Reports

Sep 27, 2024

Morning Briefs

Sep 27, 2024

Technical Stock Analysis

Sep 26, 2024

Morning Briefs

Sep 26, 2024

Economic Reports

Sep 25, 2024

Morning Briefs

Sep 25, 2024

Technical Stock Analysis

Sep 25, 2024

Technical Stock Analysis

Sep 24, 2024

Economic Reports

Sep 24, 2024

Economic Reports

Sep 23, 2024

Technical Stock Analysis

Sep 23, 2024

Morning Briefs

Sep 23, 2024

peluang aces ditengah gejolak ekonomi

Company Reports

Sep 20, 2024

Technical Stock Analysis

Sep 20, 2024

Economic Reports

Sep 20, 2024

Morning Briefs

Sep 20, 2024

Economic Reports

Sep 19, 2024

Morning Briefs

Sep 19, 2024

Economic Reports

Sep 18, 2024

Economic Reports

Sep 18, 2024

Morning Briefs

Sep 18, 2024

Technical Stock Analysis

Sep 18, 2024

Economic Reports

Sep 17, 2024

Technical Stock Analysis

Sep 17, 2024

Technical Stock Analysis

Sep 13, 2024

Morning Briefs

Sep 13, 2024

laba astra

Company Reports

Sep 12, 2024

Economic Reports

Sep 12, 2024

Morning Briefs

Sep 12, 2024