Global thermal coal demand is expected to fall by 2% in 2025
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- JUNNAN STEEL NEWS
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- Gloria Wong
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- Dec 13,2018
Summary
Recently, the investment bank of Bank of Montreal (BMO) said that with the decline in coal imports from China and Europe, and the increasingly fierce competition between renewable energy and liquefied natural gas, it is expected that by 2025, global demand for thermal coal will be reduced by 2% from 2017.
Recently, the investment bank of Bank of Montreal (BMO) saidthat with the decline in coal imports from China and Europe, and theincreasingly fierce competition between renewable energy and liquefied naturalgas, it is expected that by 2025, global demand for thermal coal will bereduced by 2% from 2017.
Bank of Montreal expects global thermal coal demand to fallfrom 982 million tons in 2017 to 964 million tons by 2025. Among them, thelargest coal consuming country, China's imports will fall by 24% to 156 milliontons. Bank of Montreal said that the decline in demand was mainly due to thedecline in coal consumption from coal-fired power plants.
However, by 2025, India's second largest thermal coalconsumer, India, will import 12% more than 2017, reaching 179 million tons. Inthe same period, demand in Southeast Asia will also increase by nearly 30% to119 million tons. Bank of Montreal expects demand for thermal coal in the OECDcountries to fall 22% to 64 million tons in 2017 compared to 2017. In addition,by 2025, marine thermal coal supply is expected to decline by 1.2% to 968million tons.