Research & Stock Picks

Company Reports

17 January 2025

By

Coal Weekly (10 – 16 January 2025): Avg. USD 116/ton (-3.4% WoW)

Recent Catalysts Driving the Price

  • Over the past five trading days, average coal prices dropped to USD 115.4/ton (-3.4% WoW), hitting two-year low on Thursday (16/1) at USD 114.6/ton. The decline signals potential end of coal supercycle amid weak demand and limited catalysts for price recovery.
  • China’s 2024 coal imports reached a record 542.7 Mt (+14.4% YoY; 2023: 474.4 Mt), with December imports rising +10.7% YoY. However, higher-than-average winter temperatures (+1.6°C than average) have suppressed consumption, leading to elevated inventory levels and limiting import demand’s role in stabilizing prices.
  • In FY24, average coal price reached USD 136.4/t (SSI: USD 136). For FY25, we maintain our forecast at USD 120/t (YTD: USD 118.3), down -12.0% YoY, due to economic uncertainties and oversupply pressures, though upcoming CNY could serve as short-term positive catalyst for coal demand. On the stock front, ADRO (TP IDR 3,400; FY25 P/E of 12.8x) is our top pick, primarily due to its green business initiatives as well as ADMR and SIS’ contributions to earnings.

Share This:

penurunan harga batu bara

Download PDF

Download PDF

UPDATE_Coal_Weekly_20250117

Download PDF

UPDATE_Coal_Weekly_20250117

More Related

Morning Briefs

Nov 7, 2025

Economic Reports

Nov 6, 2025

Morning Briefs

Nov 6, 2025

Economic Reports

Nov 5, 2025

Economic Reports

Nov 5, 2025

Morning Briefs

Nov 5, 2025

laba bumi

Company Reports

Nov 5, 2025

Economic Reports

Nov 4, 2025

Economic Reports

Nov 3, 2025

Economic Reports

Nov 3, 2025

Economic Reports

Nov 3, 2025

Economic Reports

Nov 3, 2025

Morning Briefs

Nov 3, 2025

Company Reports

Oct 31, 2025

Morning Briefs

Oct 31, 2025

Economic Reports

Oct 30, 2025

Company Reports

Oct 30, 2025

Economic Reports

Oct 30, 2025

Technical Stock Analysis

Oct 30, 2025

Morning Briefs

Oct 30, 2025

Economic Reports

Oct 29, 2025

Technical Stock Analysis

Oct 29, 2025

Morning Briefs

Oct 29, 2025

Economic Reports

Oct 28, 2025

Technical Stock Analysis

Oct 28, 2025

Economic Reports

Oct 27, 2025

Technical Stock Analysis

Oct 27, 2025

Morning Briefs

Oct 27, 2025

Economic Reports

Oct 26, 2025

Technical Stock Analysis

Oct 24, 2025

Morning Briefs

Oct 24, 2025

Economic Reports

Oct 23, 2025

Technical Stock Analysis

Oct 23, 2025

Morning Briefs

Oct 23, 2025

Economic Reports

Oct 22, 2025

Economic Reports

Oct 22, 2025

Technical Stock Analysis

Oct 22, 2025

Morning Briefs

Oct 22, 2025

Economic Reports

Oct 21, 2025

Morning Briefs

Oct 21, 2025

Economic Reports

Oct 20, 2025

Morning Briefs

Oct 20, 2025

Technical Stock Analysis

Oct 20, 2025

Economic Reports

Oct 19, 2025

Company Reports

Oct 17, 2025

Technical Stock Analysis

Oct 17, 2025

Morning Briefs

Oct 17, 2025

Economic Reports

Oct 16, 2025

Technical Stock Analysis

Oct 16, 2025

Morning Briefs

Oct 16, 2025

Economic Reports

Oct 15, 2025

Technical Stock Analysis

Oct 15, 2025

Morning Briefs

Oct 15, 2025

Economic Reports

Oct 14, 2025

Technical Stock Analysis

Oct 14, 2025

Economic Reports

Oct 13, 2025

Morning Briefs

Oct 13, 2025

Technical Stock Analysis

Oct 13, 2025

Economic Reports

Oct 12, 2025

Technical Stock Analysis

Oct 10, 2025

Morning Briefs

Oct 10, 2025

Economic Reports

Oct 9, 2025

Technical Stock Analysis

Oct 9, 2025

Morning Briefs

Oct 9, 2025

Economic Reports

Oct 8, 2025

Technical Stock Analysis

Oct 8, 2025

Morning Briefs

Oct 8, 2025

Economic Reports

Oct 7, 2025

Technical Stock Analysis

Oct 7, 2025

Morning Briefs

Oct 7, 2025

Economic Reports

Oct 6, 2025