DTC Coal “Monthly Update” Report
Monthly Summary of Critical Market Data and Trends
Each month DTC publishes a comprehensive update of Coal and Emissions through this 150+ page report that our clients use as an important reference tool. It aims to look in depth at all the major questions you may have from every angle giving you the most complete set of answers available.
It provides you with crucial supply and demand forecasts, production and reserves by region, a recap of all of the domestic and international coal prices as well as covering the emissions markets and coal and utility equity.
New to the DTC Coal & Emissions Monthly Update?
The questions we are most frequently asked are: “Why is your report so comprehensive? Can’t you just give us a bottom line?” We like to cut to the chase as well and believe us; we wish we could provide you with a bottom-line, bullish/bearish assessment. Here are the challenges:
- Coal Prices: “Which way are coal prices going?” DTC’s comments: The front part of the curve or the back part? Coking coal or steam coal? Global or domestic? If domestic, PRB or Central Appalachia or Northern Appalachia or Illinois Basin or Colorado/Utah? If global, Atlantic Basin or Pacific Basin? Origin prices or delivered prices?
- Coal Company Shares: “Okay, forget about coal prices, how about a bullish/bearish assessment of the equity sector?” DTC’s comments: Are we talking about a Central Appalachia producer or a Northern Appalachia producer or a PRB producer or a diversified producer? If diversified, one heavy into coking coal or primarily steam coal? A company that has a big exposure to the river market in times of barge shortages or a big exposure to the rail market during times of high export demand? One that has the bulk of its sales committed for the next two years or one that has a high percentage of unpriced coal? One that is dogged with high mining costs or one that has a huge amount of legacy costs? One that has a history of mine outages or one that has a great operating track record? You get the picture.
- The ‘What Ifs’: As you can imagine, there are a myriad of ‘what ifs’ in the coal sector. The transportation chain (truck, train, barge and ocean-going vessel), the price of the end products (electricity, coke and steel), the price of competing power generation (nuke, hydro and natgas), inventories, the weather, mine outages, regulatory uncertainty, OTC trading activity, domestic/global economic growth, anti ‘you-name-it’ activists, the emissions sector (SO2, NOx, Mercury, CO2), merchant generator behavior vs. regulated utility behavior, and on and on.
- Bottom Line: In the coal sector, we believe the chips will go to the participants that make an effort to understand and follow the various market drivers. Our client base consists primarily of serious players who have a respect for the complexities and want a leg up on the competition. We are committed to providing you each month with the latest data (objective, subjective and/or anecdotal) on every important market driver and its impact on the market place
- From where do we get our price data?: Our update contains numerous price curves courtesy of Evolution Markets Inc. – the leading OTC broker for coal, emissions and weather.
DTC’s Monthly Coal & Emissions Update seeks to address all of these issues and help you accurately answer the questions that arise through market developments.
To read a full sample report, please download the PDF below.