Research & Stock Picks

Company Reports

26 August 2024

By

Coal Weekly (26 August 2024): USD 147/ton (-1.8% WoW)

Recent Catalysts Driving the Price

  • Between 19 – 23 August 2024, coal prices averaged USD 147 (-1.8% WoW) as global demand declined due to the ongoing shift towards renewable energy. Major coal consumers like China and India are increasingly investing in cleaner alternatives, with China's solar capacity rising +28% in early 2024. Furthermore, the EU plans to cut 80% of coal-fired power generation by 2030. Due to all these factors, coal's share in global energy mix is expected to decline from 27% in 2021 to around 22% in 2030.
  • The industry is also facing financial & operational instability, with US coal production falling nearly 35% over the past decade and major companies like Peabody Energy filing for bankruptcy. Global investment in coal has dropped -40% since 2015 as investors continue to shifts away from coal-related assets.
  • Given ongoing concerns about potential global economic slowdown, we maintain our FY24 coal price forecast of USD 130/ton (YTD: USD 134.6/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:

Download PDF

Download PDF

UPDATE_Coal_Weekly_20240826

Download PDF

UPDATE_Coal_Weekly_20240826

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