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On Feb.
13, Noble Resources' chief coal analyst said the thermal coal market will be undersupplied in 2018, driven by increased demand from top buyers India and China
.
The global thermal coal market will be undersupplied in 2018
Rodrigo Echeverri, head of hard commodities research at Noble Resources, said at the International Coal Conference in India that coal demand will increase by 48 million mt this year, up 5 percent year-on-year to 974 million mt
.
However, this year's supply has only increased by 38 million tonnes
.
"2018 was another strong year
for the coal market.
" Echeverri said
in his speech.
Higher prices will lead to some supply-side reactions, but nowhere near the demand-driven rally
.
After five years of low prices, many small thermal coal producers went out of business, and coal demand in major coal-consuming countries grew and prices rose in
2017.
Echeverri said India, the world's second-largest coal importer after China, expects imports to grow
in 2018 after two consecutive years of decline.
Echeverri said India's dependence on Indonesian coal is expected to rise
over the next three years.
"Indonesian coal accounts for 68% of India's coal imports, and this proportion is expected to grow to 78%
by 2020.
" Echeverri expects Indonesia's total coal exports to total just over 400 million tonnes
by 2020.
，
On Feb.
13, Noble Resources' chief coal analyst said the thermal coal market will be undersupplied in 2018, driven by increased demand from top buyers India and China
.
The global thermal coal market will be undersupplied in 2018
The global thermal coal market will be undersupplied in 2018Rodrigo Echeverri, head of hard commodities research at Noble Resources, said at the International Coal Conference in India that coal demand will increase by 48 million mt this year, up 5 percent year-on-year to 974 million mt
.
However, this year's supply has only increased by 38 million tonnes
.
"2018 was another strong year
for the coal market.
" Echeverri said
in his speech.
Higher prices will lead to some supply-side reactions, but nowhere near the demand-driven rally
.
After five years of low prices, many small thermal coal producers went out of business, and coal demand in major coal-consuming countries grew and prices rose in
2017.
Echeverri said India, the world's second-largest coal importer after China, expects imports to grow
in 2018 after two consecutive years of decline.
Echeverri said India's dependence on Indonesian coal is expected to rise
over the next three years.
"Indonesian coal accounts for 68% of India's coal imports, and this proportion is expected to grow to 78%
by 2020.
" Echeverri expects Indonesia's total coal exports to total just over 400 million tonnes
by 2020.
，
