European renewable energy bring coal price down

European renewable energy bring coal price down

The largest solar and wind power production projects in Germany have led to the European coal prices lower than South Africa for the first time since January 10. IHSMcClos key data shows that yesterday, the supply of  north-western Europe's coal prices is lower than that from South Africa, Richard Hong Kong  $ 3.55 per ton. This difference is the largest since May 5, 2010. As the European demand is weakening and Asia increases imports from South Africa, the price may continue to widen. General manager of the London Commodity Brokers Ltd. said:" United States, Colombia and Russia supply the European adequacy, but its demand is at weak stage. At the same time, the demand for coal in Asia is not decline at all. This year, with European countries to increase the amount of energy can replace the European coal prices fell by 7.5 percentage points.
As continental Europe's largest electricity market, in December last year, Germany installed 3,000 megawatts of new solar panels. The largest deposit of coal stocks in the Netherlands increased 6.7 compared with the same period last year. In Europe, the ARA port coal for delivery next month fell to $ 101 per ton, the lowest level since October 2010. Richard Hong Kong supply price of 104.55 U.S. dollars / ton, basically unchanged. Germany plans to reach at least 35 power generation from renewable energy sources by 2020.
Last year, Spain's solar power generation increased by 46%, while wind power accounted for 60% of the country's electricity demand. Therefore, the demand for coal is quite low. Warmer winter than ever, added the growth of solar and wind power generation, the German coal stocks remain high and large. At February 6, Port of Rotterdam stocks 3.2 million tons. German coal imports this year will drop by 200 million tons to 4500 tons.
Analyst says: plenty of inventory in November and December, led to the European consumers lack interest in the spot market for coal imports. In terms of the world's largest coal exporter, Australia, the coal price reached its lowest point in 20 months in South Africa. Thereby, it increased interest in China and other Asian buyers Richard supply. McCloskey data shows a difference of coal price up to week of February 3 , as high as $ 13.23 per ton between Richard port and Newcastle Port. Short supply in Australia, comparison seems that, the price is to be higher. Thereby, it promotes the Asia-Pacific buyers in search of alternative sources. Under these conditions, Richard Port seems to be the beneficiaries.
 

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