Research & Stock Picks

Company Reports

10 January 2025

By

Coal Weekly (3 – 9 January 2025): Avg. USD 120/ton (-4.6% WoW)

Recent Catalysts Driving the Price

  • Over the past 5 trading days, avg. coal prices plummeted to USD 120.4/ton (-4.6% WoW), mainly due to lower projection for China’s 2025 imports of 525Mt (-1.9% YoY) coupled with higher domestic output forecast to 4.8 Bt (+1.5% YoY).
  • In 2024, Mongolia's coal exports hit a record 83.7 Mt, exceeding the annual target of 78 Mt, though the average selling price fell short, averaging USD 103/t (target: USD 115/t). Additionally, prices were weighed down by Australia's December coal exports of 34.8 Mt (+8.4% MoM, +3.9% YoY), and South Africa's November exports to 6.8 Mt (+5.0% MoM, +15.4% YoY).
  • In FY24, average coal price reached USD 136.4/t (SSI: USD 136). For FY25, we cut our forecast to USD 120/t (YTD: USD 120.7) from USD 125, down -12.0% YoY, due to economic uncertainties and oversupply pressures. 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:

batu bara

Download PDF

Download PDF

UPDATE_Coal_Weekly_20250110

Download PDF

UPDATE_Coal_Weekly_20250110

More Related

Morning Briefs

Jan 21, 2026

Economic Reports

Jan 21, 2026

Economic Reports

Jan 20, 2026

Company Reports

Jan 19, 2026

Morning Briefs

Jan 19, 2026

Economic Reports

Jan 19, 2026

harga cpo meningkat

Company Reports

Jan 15, 2026

Morning Briefs

Jan 15, 2026

Economic Reports

Jan 15, 2026

Morning Briefs

Jan 14, 2026

Economic Reports

Jan 14, 2026

Morning Briefs

Jan 13, 2026

Economic Reports

Jan 13, 2026

Morning Briefs

Jan 12, 2026

Economic Reports

Jan 12, 2026

Morning Briefs

Jan 9, 2026

Economic Reports

Jan 9, 2026

Morning Briefs

Jan 8, 2026

Economic Reports

Jan 8, 2026

Morning Briefs

Jan 7, 2026

Economic Reports

Jan 7, 2026

Morning Briefs

Jan 6, 2026

Economic Reports

Jan 6, 2026

Economic Reports

Jan 5, 2026

Economic Reports

Jan 5, 2026

Morning Briefs

Jan 5, 2026

Economic Reports

Jan 5, 2026

penjualan kendaraan melambat

Economic Reports

Jan 2, 2026

Morning Briefs

Jan 2, 2026

Economic Reports

Jan 1, 2026

Morning Briefs

Dec 30, 2025

Economic Reports

Dec 30, 2025

Morning Briefs

Dec 29, 2025

Morning Briefs

Dec 24, 2025

Economic Reports

Dec 24, 2025

Morning Briefs

Dec 23, 2025

Economic Reports

Dec 23, 2025

Morning Briefs

Dec 22, 2025

Economic Reports

Dec 22, 2025

Morning Briefs

Dec 19, 2025

Economic Reports

Dec 19, 2025

Company Reports

Dec 18, 2025

Morning Briefs

Dec 18, 2025

Economic Reports

Dec 18, 2025

Economic Reports

Dec 17, 2025

Morning Briefs

Dec 17, 2025

Economic Reports

Dec 17, 2025

Economic Reports

Dec 16, 2025

Morning Briefs

Dec 15, 2025

Economic Reports

Dec 15, 2025

Morning Briefs

Dec 12, 2025

Economic Reports

Dec 12, 2025

Economic Reports

Dec 11, 2025

Morning Briefs

Dec 11, 2025

Economic Reports

Dec 11, 2025

Morning Briefs

Dec 10, 2025

Economic Reports

Dec 10, 2025

Company Reports

Dec 9, 2025

Economic Reports

Dec 9, 2025

Morning Briefs

Dec 8, 2025

Company Reports

Dec 5, 2025

Morning Briefs

Dec 5, 2025

Economic Reports

Dec 5, 2025

Morning Briefs

Dec 4, 2025

Economic Reports

Dec 4, 2025

Morning Briefs

Dec 3, 2025

Economic Reports

Dec 3, 2025

Company Reports

Dec 2, 2025

Economic Reports

Dec 2, 2025

Economic Reports

Dec 1, 2025

Economic Reports

Dec 1, 2025

Economic Reports

Dec 1, 2025

Morning Briefs

Dec 1, 2025

Economic Reports

Nov 30, 2025

Morning Briefs

Nov 28, 2025

Economic Reports

Nov 28, 2025

Morning Briefs

Nov 27, 2025

Economic Reports

Nov 27, 2025

Morning Briefs

Nov 26, 2025

Economic Reports

Nov 26, 2025

Economic Reports

Nov 25, 2025