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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low grade iron ore while major Chinese companies are buying up ore mines with two billion worth of reserves in Africa. "The ban will surely have an effect because about 50% of our exports are low grade iron ore," Royston Machado, an industry consultant working jointly with China Inspection and Quarantine, said. India sold 107 million tonnes accounting for 18% of Chinese imports in 2009.
The ban came into effect after the China Iron and Steel Association (CISA) advised ore buyers at a conference to stop buying low grade ores. "CISA has not yet issued a formal notification but the ban is already having an effect," Machado said.
The ban has not caused uproar because businesses in India are still not feeling the pinch. China has more than two months of stocks and the offtake from steel mills is low. Another reason is that the Goa port, which ships nearly half of Indian ores to China, is closed for monsoon.
"A clear picture would emerge after the Goa port reopens in October and there is a strong demand. Indian exports would be seriously reduced unless the government reconsiders the ban," sources said. The move was followed by a decision by the National Development and Reform Commission giving a green signal for the purchase of two African mines with reserves totaling 2 billion tonnes.
Three Chinese companies including the Wuhan Iron & Steel, are jointly buying a mine with reserves worth 800 million tonnes at Soalala in Madagascar. Wuhan has also purchased controlling stakes in the Bong Iron Ore company based in Liberia. Bong has proven reserves of over 1.3 billion tonnes.
Source: Times of India / Hellenic Shipping
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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Bahari Cakrawala Sebuku - Indonesia
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- PTC India Limited - India
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- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
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- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
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- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
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- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
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- New Zealand Coal & Carbon
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- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
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- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
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- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
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- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
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- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
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- SMC Global Power, Philippines
- Commonwealth Bank - Australia
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- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
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- Kideco Jaya Agung - Indonesia
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- Bulk Trading Sa - Switzerland
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- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
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- Jaiprakash Power Ventures ltd
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- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
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- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Eastern Coal Council - USA
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- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
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- VISA Power Limited - India
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- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
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- Dalmia Cement Bharat India
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- Agrawal Coal Company - India
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- Price Waterhouse Coopers - Russia
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- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
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