Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese companies making “significant” enquiries about supplies for next year.

Increasing base-load electricity requirements are underpinning growing
demand for power-station coal in Asia, Sydney-based Centennial said in
a presentation filed to the Australian stock exchange today. China is
anticipated to remain a net importer of the fuel, it said.

“We continue to see a growing strength in demand for thermal export
coal,” Chairman Kenneth Moss said in speech notes before an address to
the company’s annual general meeting in Sydney. “Chinese demand
continues to be a leading contributing factor.”

Centennial, which has gained 56 percent in Sydney trading in the past
six months, fell 2.4 percent to A$3.27 at 11:10 a.m. The benchmark
S&P/ASX 200 Index dropped 2.4 percent.

Centennial forecasts an average export price of about A$79 ($71) a
metric ton for the 2010 financial year, Moss said. Prices for
power-station coal for immediate delivery from Newcastle port, a
benchmark for Asia, rose 4 percent, gaining for a fifth week, according
to the globalCOAL NEWC Index. The price climbed to $82.25 a metric ton
in the week ended Nov. 20.

Source: Bloomberg

Search to find what you want

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     CENTENNIAL Coal has reported a 7 per cent fall in fourth-quarter sales but says exports are rising on continued robust demand. The Sydney-based miner sells about 70 per cent of its coal to Australian power generators under long-term contracts but is working to boost the amount of coal it sells into the

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• China raises Xishan Coal coking coal prices

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• Australia Newcastle coal port: Interim Report to the quota system

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• China became a net importer of coal

    According to the latest data from the General Administration of Customs (GAC), China’s net import of coal hit 103.43 million tons in 2009. Last year, China exported 22.40 million tons of coal, down 50.7 percent year on year, while its coal import surged 211.9 percent to 125.83 million tons

• Coal stock at Qinhuangdao port hits record low in October

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• Coal prices to be optimistic in 2010 to China Factor

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