euracoal market report 1-14

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EURACOAL Market Report 1/2014

May 2014

WORLD COAL MARKET DEVELOPMENTS - WORLD COAL PRODUCTION AND SEABORNE

TRADE

The pace of growth in the global production of hard coal (coking coal and steam

coal) has slowed and output stabilised at around 7.1 to 7.2 billion tonnes in 2013.China imported more coal as it throttled its own production boom of hard coaldown to an increase of just 50 million tonnes, while the production volumes of cokingcoal in Australia (+24 million tonnes) and of steam coal in Indonesia (+31 milliontonnes including lignite) and Russia (+7 million tonnes) were substantially increased.In contrast, Colombia, the USA and Vietnam decreased their production of hardcoal.

With our initial estimate being 1 113 million tonnes, global seaborne hard coal tradecleared the one billion tonne hurdle for the second year running. Coking coalexports increased to 275 million tonnes, compared with 244 million tonnes in 2012.

Coking coal trade reflects global crude steel production which increased in 2013 by3.5% to 1 607 million tonnes. In Asia, annual production of crude steel was 1 080million tonnes, 6% higher than the previous year, whilst the EU recorded a decreaseof 2.2% compared with 2012, down to around 166 million tonnes.

Steam coal exports increased from 816 million tonnes in 2012 by nearly 5 % to anestimated 858 million tonnes in 2013. The growth in Indonesian coal exports – of alltypes – has again been remarkable: from 304 million tonnes in 2012 to 335 milliontonnes in 2013. Even accounting for the uncertainty surrounding Indonesian exportdata, it now dominates steam coal trade in the way that Australia continues todominate coking coal trade. Rising taxes and royalties, and perhaps even export

quotas or the possible ban of exports of low calorific value coal to China, maydampen Indonesia’s future export growth.

Australia exported 357 million tonnes (+13%) of hard coal, followed by Indonesia with335 million tonnes (+22%) and Russia with 131 million tonnes (+11%). In the AtlanticBasin, Colombia’s exports shrank to 74 million tonnes (−7.6%) due to strikes by workersat all the big coal mines, a temporary stoppage of rail transport during the night andalso some bomb attacks on rail tracks by guerrillas. South Africa decreased itsexports to 72 million tonnes (−3%), with just 14 million tonnes going to the EU.

These supply-side developments show an obvious oversupply of hard coal with a

corresponding downward pressure on coal prices in all markets: in North America, inEurope and particularly in Asia.



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Imports to the important EU market decreased by 5 million tonnes due to weakeconomies in most EU member states. On the other hand, there was strong growth inUK and German imports, despite increasing shares of renewable energy. Indianimports did not increase that much as anticipated (+ 32 million tonnes), probablybecause of the weakening of the rupee against the US$ during 2013. Chinese importsgrew by a massive 53 million tonnes to 288 million tonnes, while Japan added 6

million tonnes to reach a record 191 million tonnes as the country again relied heavilyon fossil fuel imports given that its nuclear power plants remain closed.

After a sharp fall of 7% in 2012, coal production from US mines recorded a furtherdrop of 2% to 905 million tonnes in 2013. Coal consumption increased by 4% asnatural gas prices rose above 4 US$/mmBtu which led to more coal being used forcoal-fired power generation in 2013 than in the previous year. Otherwise, the US coalindustry would have faced a steeper production decline. Even so, the US coalindustry continued to idle or close non-competitive mines. Due to lower marketprices, the US decreased its hard coal exports from 114 million tonnes down to 106million tonnes. US coal exports to Europe fell 9% from 60 million tonnes down to 55

million tonnes. In the future, US coal exports will continue as long as internationalprices cover their high marginal costs of supply. During 2013 coking coals as well ashigh-sulphur steam coal were sometimes sold with heavy discounts on the indexprices which meant losses for those mining companies with higher production orlogistic costs.Australian coal exports in 2013 recovered and increased. However, the boom ofnew projects was hit by the downward trend of coal prices and some projects werereconsidered, postponed or cancelled.

India’s growing dependence on imported coal became obvious as the rupeeweakened against the US dollar during 2013 and Indian suppliers were not able to

purchase coal from South Africa due to the high prices in their local currency. In thelast quarter of 2013, the rupee recovered and India was again able to buy morecoal from South Africa. The South African coal industry benefitted from thisdevelopment because the API #4 price index increased from US$ 72/t in mid-2013 to85 - 88 US$/t by the end of 2013. As South Africa’s rail infrastructure capacity catchesup with recent port expansions, India can benefit from new production capacity inSouth Africa. There remains great potential to expand exports from not only SouthAfrica, but also Mozambique where the Moatize and Minas Moatize projects startedtheir first exports in 2013. Yet bad weather and infrastructure disruptions, togetherwith some political irritations, led to heavy write-offs by some investors.

The situation in China is very complex. Today, it remains the world’s largest coalimporting country. New rail routes could allow more coal from the vast reserves innorth-western China and Mongolia to be brought to market. Inner Mongolia couldsurpass Shanxi as China’s largest coal-producing province. Moreover, the Chinesecoal market is shifting inland as the government seeks to better balance wealthcreation across all provinces. On the other hand, the trend is to replace old coal-fired power plants in big cities with gas-fired power plants to quickly reduce airpollution. Developments in Asia will determine the future balance of demand andsupply and hence coal price developments in Europe.



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EUROPEAN COAL MARKET

2013 (1-12) 2012 (1-12)

Mt Mt

Domestic hard coal production 113.7 128.5

Hard coal imports 216.0213.5

Lignite production 407.5 433.8

Total 737.2 775.8

HARD COAL

Producing country 2013 (1-12) 2012 (1-12)

Mt Mt

Bulgaria 2.1 2.3Czech Republic 8.6 11.4

Germany 7.5 10.8

Poland 76.5 79.2

Romania 1.8 1.9

Spain 4.4 6.1

United Kingdom 12.8 16.8

Total 113.7 128.5

In Germany, three underground hard coal mines remain, all located in North-Rhine-

Westphalia. Hard coal output for 2013 is estimated at 7.5 Mt, of which 6.4 Mt went forpower generation, 0.9 Mt for iron and steel production and 0.4 Mt for other uses.Manpower still totals some 12,500 workers, but the entire production chain works well,as can be seen from the very positive accident statistics.

The coalition agreement of the new federal government states that the energytransition will be a central task. Reform of the Renewable Energy Sources Act (EEG)includes identifying power transmission corridors and cost efficiency improvements.Conventional coal- and gas-fired power plants remain “indispensable in the nationalenergy mix” and pumped-storage plants must contribute in an economic way togrid stability.

In order to protect energy-intensive industries and industries facing internationalcompetition, the new government foresees maintaining the special exemptionregime of the Renewable Energy Act, although it has to be put in line with Europeanlegislation.

Two and a half years ago, Germany announced the Energiewende or energytransition and the current energy mix shows that nuclear capacity is being graduallyreplaced by renewables and new CCGT’s , despite high gas prices, as well as byhard coal and lignite. Even though lignite production slightly decreased, electricityproduction from lignite increased as the new power plants in Rhineland and Lausitz

generate electricity more efficiently.



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The energy transition saw energy prices rise out of control in 2013 - consumers paid a€22 billion premium for green electricity and the rising share of renewables will pushprices even higher. Even though citizens think that renewables are becomingcheaper, the growth in photovoltaics and biomass is very expensive due to over-generous subsidies.

The former German government expected that electricity consumption woulddecrease by some 10% by 2020, an assumption that was taken out from the newcoalition agreement. Experts now say that electricity consumption will stay stable fora long time. Furthermore, the government fails to acknowledge that the nuclearphase-out is far from complete and will entail huge investments and price increases.To date, fossil fuels still have a share of around 60% in total energy consumption, butafter 2023 it is expected that this share will fall.

Hard coal imports to Germany increased up to some 50 Mt of which 40 Mt wassteam coal and 10 Mt coking coal due to shrinking indigenous hard coal productionand higher power generation mainly as a result of the advantages of dark spreads

over spark spreads.

In Poland, there were 29 active mines at the end of the year of which 15 belong toKompania Węglowa SA. Hard coal production in 2013 decreased by 2.7 Mt to 76.5Mt – being mainly a fall in steam coal production. Exports amounted to 9.6 Mt, ofwhich the major part went to EU countries with Germany being the biggest customerin the EU and Morocco beyond EU borders.

The European Citizens Initiative to suspend the EU Climate and Energy Package,which was supported by ZPGWK, unfortunately failed. On a more positive note, the

Polish government intends to make significant investments in coal-fired powergeneration. There are also project proposals for new mines in the Lublin region byKompania Weglowa and an Australian company, Prairie Downs Ltd. KOPEX is alsointerested in new mining projects in Poland. Due to unfavourable coal prices, Polishproducers plan important cost-reduction projects.

Important announcements on restructuring were made by the government inJanuary 2014 which will be completed by 2020. The main element of therestructuring will be the merger or sale of the most profitable mines and a majormanpower reduction which should be achieved partly through retirements andpartly through redundancies which will be a difficult process. The fifteen main coal

company subsidiaries will therefore be merged into seven bigger subsidiariesbetween 2014 and 2020. Other subsidiaries will be sold.

Kompania Węglowa will carry on with its new power plant project and severalpotential partners are interested to join the project. A final decision is awaited during2014. A long-term contract with Opole power plant is also under negotiation.

In the United Kingdom, after being stable for the last few years, at around 17 Mt,production decreased sharply by 4 to 5 Mt due mainly to a fire at Daw Mill colliery,the largest underground colliery in the UK, which resulted in the closure of the mineand due also to the closure of Maltby colliery because of difficult geological

conditions. Another event was the liquidation of Scottish Coal.



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Turning to UK energy policy, the Energy Bill, which includes the principles of how theUK market for electricity is to be reformed, has been through both Houses ofParliament and is now awaiting Royal Assent. The details of the regulations will bedebated over 2014. During its passage through Parliament, there was anamendment proposed in the House of Lords such that any existing coal-fired powerstation which invested to comply with the IED should be subject to a more stringent

CO2 emission performance standard which would limit load factors to around 40%.CoalPro and CoalImp both lobbied strongly against this amendment, arguing thatthis would mean that no more coal stations would invest in NOx reductionequipment. The amendment was defeated in the House of Commons and a furtherattempt to curtail and limit coal station operating hours with a change of wordingwas voted out in the House of Lords.

The Bill now addresses three principal pillars of the electricity market: an emissionperformance standard (EPS), feed-in tariffs and capacity mechanisms. The EPS isclearly designed to allow new gas plants, but not coal. All forms of renewablegeneration, new nuclear plants and CCS plants are eligible to enter into contracts

for difference (CFDs) with a government agency which will ensure a guaranteedprice for the electricity they produce, regardless of actual market prices. Thisconcept is currently the subject of an investigation by DG Competition to decidewhether or not it constitutes State aid.

Ofgem, the UK regulator for electricity and gas markets, and the National Grid haveboth warned of tighter capacity margins over the rest of this decade. Theinvestments that the UK generation fleet and distribution network require (£2-4 billion)to enable decarbonisation of supply by 2030 have not occurred at the paceenvisaged in the 2006 Energy Review. A capped price auction for capacity provisionfor the year 2018 will happen later in 2014. National Grid will assess the capacity

required and stations will be able to bid capacity. Any installation which is subject toa CFD will be excluded from the auction.

In April 2013, a carbon price support tax was introduced. It is currently equivalent toaround £5/tCO2, but will rapidly rise to £30/tCO2 by 2020 and to £70/tCO2 by 2030. Ofcourse, gas plants will pay around half as much as coal plants. This tax has littleperceptible impact at the moment, but has the potential to increase UK electricityprices and damage the ability of UK manufacturers to compete in the global market.The coal industry in the UK, joined by the energy-intensive industry, is campaigningfor this tax to be abolished or at least frozen at current levels so that the economicrecovery which is beginning to happen in the UK can be sustained by strong trade in

the global market.

Although the Energy Bill will soon receive Royal Assent and become an Act ofParliament there is still much negotiation and clarification to be done. The nextelection will be May 2015 and the next party in power will have to curb risingelectricity costs and avoid the lights going out as older plants close.

In Spain, the coal industry is undergoing very difficult times and total output in 2013was just 4.4 Mt. One company has already gone into liquidation and others will followif there is no decision on subsidies. Nevertheless, Carbunión believes that coal output

could increase in 2014 to some 6 Mt. Coal’s share in the electricity mix was 16.25% in2013 as the share of gas dropped from 23.2% in 2010 to 11%. 2013 was a very rainy



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and windy year, which meant that renewables produced most of the electricityconsumed. As renewables are offered to the electricity market at zero price, theSpanish wholesale electricity market has seen prices of 0 €/MWh.

Based on a Royal Decree, the government should publish, before the beginning ofeach calendar year, the electricity volume to be produced from indigenous coal,

the volume of coal to be sold by each coal producer and the price. Last year, thepublication was delayed by two months. The Spanish government has implementeda new tax (a 7% levy on energy production) and has eliminated exemptions for gasand coal. Accordingly, the government should have included these new taxes aspart of the fuel costs for the power stations included in the PSO under the RoyalDecree. However, since these new costs have not been included, electricitycompanies presented in March an injunction against the new regulation and askedfor interim measures to suspend its effects. The outcome was tough: utilities did notbuy any coal and mines did not sell any.

The Spanish government has finalised the first part of the reform of the electricity

market with a sharp cut in subsidies for renewables, mainly photovoltaics. Domesticcoal will have a share of 7.5% in electricity production, but the New Coal Plan (2013-2018) will put coal in a critical position. Subsidies for opencast mines will practicallydisappear in 2014 to just a symbolic €0.5/tonne. From 2015, opencast mines will beworking without any aid. The government has made a public statement on CouncilDecision 787/2010, stating its objection to the requirement that mines pay back pastsubsidies if they operate after 2018.

In the Czech Republic hard coal production slightly decreased in 2013 (-2.8 Mt) andwill probably further decrease if the management of OKD decides to close the

unprofitable mine Paskov where 2,500 miners work.

In France, coal mining stopped almost a decade ago but the country still importsabout 17 Mt of coal each year of which around 7 Mt is for power generation. Coal-fired power generation capacity is however expected to decrease as several oldcoal-fired power plants will have to be decommissioned due to the requirements setby the LCPD. In the steel sector, ArcelorMittal announced the closure of Florangesteel plant; coking coal imports will therefore decrease.

In Ukraine, production of steam and coking coal decreased in 2013 due to demanddecreases, including a major fire which devastated one power plant. Thegovernment wants to limit coal imports and protect indigenous production, even ifthis regulation is aimed at state-owned mines and not directly at private companiessuch as DTEK. State-owned companies suffered losses and were rather unprofitablein 2013. It is expected that these companies will be restructured by the end of 2015and unprofitable mines could be closed. Later, there will be the privatisation of theelectricity market which will certainly have an impact on current subsidies.



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LIGNITE

Producing country 2013 (1-12) 2012 (1-12)

Mt = t Mt = t

Bulgaria 25.4 30.4

Czech Republic 40.5 43.5

Germany 182.7 185.4Greece 53.8 62.2

Hungary 9.5 9.3

Poland 65.5 64.3

Romania 22.9 32.1

Slovak Republic 2.3 2.3

Slovenia 3.9 4.3

Total 407.5 433.8

Unfortunately, the German lignite industry is under serious attack from green

politicians and NGOs, but the Federal Constitutional Court nevertheless decided thatlignite was an important factor in Germany’s economy and wealth creation suchthat the extension of Garzweiler mine, including the relocation of people, wasnecessary and legally justified. Similar decisions are being faced in Nochten andWelzow, but positive outcomes are likely.

Lignite production in Germany slightly decreased by some 2.7 Mt which was mostlydue to increased power plant efficiency, resulting in a slightly decreasing need oflignite.

Lignite production in the Czech Republic decreased by 3 Mt due not only toexploitation limits but also to unfavourable business strategies and contracts withpower plants.

The new energy strategy to 2040 is not yet finalised, but will be presented to the newgovernment in the coming months. According to the last version from September2013, the share of coal in power generation will decrease dramatically from thecurrent 52% to 11-21% in 2040.

The elections in October 2013 were won by the Social Democrats who had to form agrand coalition with the Christian Democrats and a totally new party called ANO

(“yes”) to obtain a majority in the new parliament. The coalition was agreed and thenew government should be in place by the end of January 2014. One of therequirements of the new coalition is to look at the reclamation of mine sites and tosolve within two years the question of mining limits which were set in 1991.

In Greece, lignite production decreased by some 10% due mainly to thedecommissioning of an old lignite-fired power plant and the increased supply fromthe renewables sector which enjoyed favourable weather conditions. Renewablesare pushing lignite and gas out of the energy mix, but lignite production is expectedto increase again in 2014. In 2013, lignite still had a share of 43.6% in the total

interconnected electricity system (which excludes islands), whilst gas had a share of



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17%, hydro 12.4% and wind plus others 17.6%. Energy consumption fell slightly due tothe economic downturn, but is expected to increase in 2014.

The construction of the PTOLEMAIS V lignite-fired power plant (650 MW) was signedafter a successful financial arrangement was concluded, but the governmentannounced that there will be no other new TPP built in the near future due to system

overcapacity. However, around 50% of the current capacity will have to bedecommissioned by 2020 and there is no clear government decision forreplacement. At least one TPP (800 MW) will be needed to replace the oldinstallations. Instead, the government has decided to increase renewable subsidiesfrom 23 to 48 €/MWh or to grant substantial feed-in tariffs.

Poland’s lignite industry has proven deposits estimated at 22 billion tonnes. Turów andBełchatów power plants and mines belong to PGE whilst Adamów and Konin areprivate companies belonging to PAK. In 2013, output totalled 65.5 Mt but depositsare gradually being used up and new licenses are needed. The most advanced

project is the one in Złoczew which should have all permits by 2015. PGE is trying toobtain a permit for Gubin, near the German border, involving an environmentalimpact assessment for Germany. The problem is that whilst the government itselfseems to be willing to deliver the permit, the local community seems to be opposedto the project. This is a new situation for Poland where local citizens have usuallybeen in favour of any new exploitation which offers jobs and regional wealth.

Electricity production from January to November showed an increase in lignite’sshare of 2% and wind by 30% (even though wind’s share remains small).

Currently, the energy policy to 2030 is being discussed with one major goal: to

protect the areas around coal deposits. For the time being, the Ministry of Economywill prepare a list of strategic coal deposits. This list will be very important for theindustry as local governments will have to take these deposits into account in localspatial planning.

One of the main objectives of the general energy policy to 2050 is to provide supplysecurity with acceptable prices, using if possible national resources and keepingcoal as the dominant fuel whilst exploiting unconventional gas potential. Thedevelopment of nuclear power is also considered important.

To summarise, one can say that Poland is doing well with the 20-20-20 goals, but does

not support any further targets. Coal will remain the basis for an affordable energymix, but opening new mines will be crucial if coal mining is to carry on beyond 2040.Therefore, big investments in the Polish coal and lignite industry are urgently needed,notwithstanding the permitting difficulties.

In Slovakia, there are more than one billion tonnes of lignite reserves in central,southern and western regions. The biggest are located in the central part, aroundPrievidza and Novaky. HBP is the biggest mining company in the country and thereare two other smaller companies: Baňa Dolina and Baňa Čáry. HBP owns threecollieries and exploited some 2.3 Mt in 2013, supplying the nearby ENEL power plant.

Nevertheless, the Cigeľ colliery will close at the end of the year as reserves will beexhausted. Some 500 miners will have to be transferred to the other two mines. A



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further 220,000 tonnes of lignite are produced at the smaller mines. Geologicalconditions are very difficult in Slovakia; there are hydrological problems and gasproblems which is why HBP has developed much of its own mining equipment.

HBP has several projects, such as the joint project to modernise ENO (the Novákythermal power plant), the development of a greenhouse farm in Nováky and the

biggest fish farm in the country as well as greenhouses at Handlová colliery.

Production at HBP will decrease to 1.5 Mt annually, in accordance with the output ofNováky power plant. The extension of Slovakia’s nuclear power plants will result in anoverproduction of indigenous electricity and Slovakia should become a netelectricity exporter within the next few years. Renewables are promoted aselsewhere in Europe and besides the full utilisation of hydro capacity there will alsobe some new small installations burning local biomass (wood chips). The increase inrenewables is nevertheless raising electricity prices.



TABLE 1

World Market Price evolution (Coal, Coke, Freight, Crude Oil)

MCIS Steam Coal Marker Price (7000kcal/kg)

Jan Feb March Apr May June July Aug Sept Oct Nov Dec

cif-NW Europe

Steam Coal 2012 128.28 118.65 113.47 114.56 102.87 102.87 104.87 109.05 107.57 101.36 99.54 106.73

(US$ / tce) 2013 102.38 100.67 105.11 93.14 97.58 90.07 85.26 89.37 88.98 96.66 99.94 97.07

Steam Coal 2012 99.40 89.72 85.95 87.04 80.43 82.12 85.34 87.95 83.97 78.13 77.39 75.31

(EUR / tce) 2013 77.05 75.36 81.08 71.50 75.17 68.29 65.18 67.14 66.66 70.89 74.07 70.83

Source: VDKI, McCloskey: First quotation of the month, basis 6000 kcal/kg (converted to 7000 kcal/kg)

Fre g t Rates USD tR Bay/Rotterdam 2012 10.18 8.86 8.65 8.95 8.52 6.35 6.28 5.98 6.53 9.09 10.41 7.75

(Capesize) 2013 7.48 6.90 6.36 6.24 6.65 7.89 8.77 9.69 14.16 13.29 10.24 14.93

Newcastle/Rotterdam 2012 18.31 14.95 14.88 15.48 15.08 12.60 13.10 12.74 13.65 16.80 19.14 13.83

(Capesize) 2013 14.24 14.60 13.49 12.86 14.48 16.49 17.67 18.70 24.45 23.88 19.79 25.77

Bolivar/Rotterdam 2012 10.85 10.01 9.05 9.65 9.70 8.38 8.73 8.06 9.06 10.83 12.04 9.17

(Capesize) 2013 9.95 9.68 8.88 8.50 8.55 9.51 10.76 10.29 15.81 15.02 12.50 16.47

Source: VDKI, Frachtcontor Junge & Co

Currency Rates

USD/EUR 2012 0.76 0.76 0.76 0.76 0.78 0.80 0.81 0.81 0.78 0.77 0.78 0.76

2013 0.75 0.75 0.77 0.77 0.77 0.76 0.76 0.75 0.75 0.73 0.74 0.73

USD/ZAR 2012 8.01 7.64 7.60 7.83 8.16 8.40 8.25 8.26 8.27 8.67 8.81 8.62

2013 8.79 8.87 9.19 9.10 9.33 10.00 9.93 10.06 10.00 9.90 10.21 10.36

AUD/USD 2012 1.04 1.07 1.05 1.04 1.00 1.00 1.03 1.05 1.04 1.03 1.04 1.05

2013 1.05 1.03 1.03 1.04 1.00 0.94 0.92 0.90 0.93 0.95 0.93 0.90

Crude Oil (USD/Barrel)

Crude Oil 2012 111.76 117.48 122.97 118.18 108.07 93.98 99.55 109.52 110.67 108.36 106.86 106.55

2013 109.28 112.75 106.44 101.05 100.65 101.03 104.45 107.52 108.73 106.69 104.97 107.67Source: OPEC Basket Prices



TABLE 2

WORLD SEABORNE COAL TRADE - STEAM COAL

Exporting Countries 2013 (1-12) 2012 (1-12) Diff. 2012/13

Mt Mt Mt

PACIFIC

Australia 188 171 17

China 6 8 -2

Indonesia 335 304 31Vietnam 12 15 -3

SUB-TOTAL 541 498 43

ATLANTIC

Colombia 74 80 -6

Russia 116 109 7

South Africa 72 75 -3

Venezuela 2 3 -1

USA 44 46 -2

Others 9 5 4

SUB-TOTAL 317 318 -1

TOTAL 858 816 42

incl. Anthracite and PCI-Coal

Source: VDKI, preliminary figures



TABLE 3

WORLD SEABORNE COAL TRADE - COKING COAL (inc. PCI-Coal)

Exporting Countries 2013 (1-12) 2012 (1-12) Diff. 2012/13

Mt Mt Mt

Australia 169 145 24Canada 34 30 4

China 1 1 0

Russia 15 8 7

USA 56 60 -4

TOTAL 275 244 31

Source: VDKI provis. Figures



TABLE 4

EU CRUDE STEEL PRODUCTION

COUNTRY

2013 (1-12)

Mt

2012 (1-12)

Mt

Austria 7.9 7.5

Belgium 7.1 7.4

Bulgaria 0.5 0.6

Czech Republic 5.2 5.1

Finland 3.5 3.1

France 15.7 15.6

Germany 42.7 42.7

Greece 1.1 1.3

Hungary 0.9 1.6

Italy 24.1 27.3

Luxembourg 2.1 2.3

Netherlands 6.7 6.9

Poland 8.0 8.4

Romania 3.6 3.8

Slovakia 4.5 4.4

Slovenia 0.6 0.6

Spain 13.7 13.7

Sweden 4.4 4.4

United Kingdom 11.9 9.9

Others 1.6 2.8

EU-27 165.7 169.4

Source: World Steel Association



TABLE 5

EU Hard coal and lignite production and consumption

COUNTRY1-12 2013

Mt

1-12 2012

Mt

1-12 2013

Mt

1-12 2012

Mt

Bulgaria * 2.1 2.3 1.7 2.1

Czech Republic 8.6 11.4 2.8 3.3Germany 7.5 10.8 6.4 9.8

Poland 76.5 79.2 n.a. 52.0

Romania 1.8 1.9 1.8 1.9

Spain 4.4 6.1 2.9 6.5

United Kingdom 12.8 16.8 n.a. 15.2

EU-27 113.7 128.5 n.a. 90.8

* brown and black coal

** only hard coal producing countries

Lignite production

COUNTRY1-12 2013

Mt

1-12 2012

Mt

1-12 2013

Mt

1-12 2012

Mt

Bulgaria 26.4 30.4 25.5 30.4

Czech Republic 40.5 43.5 36.0 39.1

Germany 182.7 185.4 163.8 166.3

Greece 53.8 62.2 54.3 61.9

Hungary 9.5 9.3 8.8 9.0

Poland 65.5 64.3 64.6 63.2

Romania 22.9 32.1 21.9 30.2

Slovakia 2.3 2.3 2.4 2.4

Slovenia 3.9 4.3 3.7 4.4

EU-27 407.5 433.8 381.0 406.8

EU Hard coal productionConsumption of indig. hard coal

for power generation**

Lignite consumption for

power generation



TABLE 6

EU Hard coal imports

COUNTRY1-12 2013

Mt

1-12 2012

Mt

1-12 2013

Mt

1-12 2012

Mt

1-12 2013

Mt

1-12 2012

Mt

Austria 2.7 2.9

Belgium 2.2 1.1 3.3 3.5Bulgaria 0 0 1.7 2.3 1.7 2.3

Croatia 1.2 1.2

Czech Republic 1.1 1.1 1.0 0.9 2.1 2.0

Denmark 5.6 3.9

Finland 1.2 1.2 3.9 2.8 5.1 4.0

France 18.9 17.0

Germany 10.2 9.6 39.9 35.3 50.1 44.9

Greece 0.1 0.1 0.1 0.1 0.2 0.2

Hungary 1.3 1.4 0.3 0.1 1.6 1.5

Ireland 1.2 2.2Italy 4.8 7 18 18 22.8 25.0

Netherlands 3.4 3.5 9.0 8.9 12.4 12.4

Poland 2.4 1.5 8.5 8.6 10.8 10.1

Portugal 0 0 4.2 5.0 4.2 5.0

Romania 0.9 1.3

Slovakia 4.0 0.7 4.7 3.4

Slovenia 0.8 0.6

Spain 2.5 2.2 10.6 20.1 13.1 22.3

Sweden 2.0 1.5 1.0 0.7 2.5 2.2

United Kingdom 5.7 5.0 43.7 39.8 49.4 44.8

Others 0.7 0.8

EU-27 216.0 213.5

EU Coking coal imports EU Steam coal imports EU Total coal imports

euracoal market report 1-14

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