中文
Global miner Yancoal Australia's attributable raw coal output hit 13.40 million tonnes over the fourth quarter (October-December) in 2023, increasing 49% year on year and 11% from the previous quarter, according to the company's Q4 report.
Attributable salable coal production stood at 9.7 million tonnes, up 47% year on year and 4% from Q3 2023, which marked the highest since 2020.
The report noted that raw coal and saleable coal output of the company's coal mines all exceeded or matched the volume in previous quarter, despite Ashton coal mine was affected by the water intrusion incident.
Over the reporting period, the company's attributable sales were 10.10 million tonnes, up 46% year on year (YoY) and 17% quarter on quarter (QoQ), data showed.
Among them, thermal coal sales were 8.7 million tonnes, up 58% YoY and 13% QoQ. Metallurgical coal sales were 1.4 million tonnes, staying flat YoY yet rising 56% QoQ.
From October-December, the company's average realized price came in at A$196/t, declining 53% YoY and 1% QoQ. Metallurgical coal average realized price declined 25% YoY and 19% QoQ to A$292/t. Thermal coal average realized price stood at A$180/t, down 58% YoY yet up 1% QoQ.
In Q4 2023, Yancoal's attributable coal sales were 0.4 million tonnes higher than its output, countering the previous stockpiles. In addition, the company purchased additional coal for blending to optimize the overall product mix and realized prices.
The sales volume included 0.22 million tonnes supplied to domestic power plants under the NSW Government Domestic Coal Reservation Directions. The company needed to supply up to 0.31 million tonnes of attributable saleable coals to domestic power generators each quarter.
The report noted that the thermal coal market appeared to be balanced for much of Q4 2023. The coal stockpiles generally maintained at a good level in North Asia and Europe amid mild winter temperatures, which was similar in China. Demand in India increased after a weaker rainy season resulting in lower hydropower generation. Vietnam experienced rising demand due to increased economic activities.
In terms of the metallurgical coal market, slack economic conditions in North Asia and Europe dampened steel demand. Some steelmakers carried out maintenance activities in advance, resulting in lower demand for metallurgical coal. Demand from India and Vietnam was less affected, but overall market conditions were weaker during the period, with the cyclone's disruption to Queensland exports causing only a temporary supply shortage.
In 2023, the company's attributable raw coal output totaled 45.50 million tonnes, up 19% YoY. That of saleable coal rose 14% YoY to 33.40 million tonnes, achieving its annual output target of 31-36 million tonnes, data showed.
(Writing by yan.sun Editing by Harry Huo)
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