Odd Lots China Is Changing Its Coal Use, and It Affects the Whole World
Jan 31, 2022
Join Alex Turnbull, a seasoned fund manager in Singapore specializing in China's coal market, as he delves into the shifting dynamics of Chinese energy consumption. He discusses how China's transition from coal to renewables affects global energy prices, particularly in Europe. The conversation highlights the complex interconnections in the coal market, the challenges of balancing energy needs with climate goals, and the implications of China's evolving coal policies. Turnbull's insights shed light on the broader impacts of these changes on the world economy.
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China Coal Imports
- China imports coal despite having domestic resources due to transportation costs.
- Locational dynamics make the coal market quirky, similar to gas pipelines.
China's Coal Market: A Global Impact
- The Chinese coal market, a quarter of global carbon emissions, is often misunderstood.
- Alex Turnbull's research aims to model this market, driven by past experiences with distressed debt in the coal sector.
China's Coal Rollercoaster
- In 2020, China experienced oversupply in coal due to decreased demand and weather.
- A cold winter, reduced mining output, and recovering demand led to a coal shortage and price spikes in 2021.