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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 fallen more than 20 per cent on weakening Chinese demand. Goldman Sachs analyst Malcolm Southwood said Chinese buyers have been largely absent from the spot market for almost a month and show no immediate inclination to return while sentiment remains weak.
He said the economic powerhouse continues to shun offers as it expects prices to keep falling.
"With spot iron ore trading at a discount of more than 20 per cent to the implied third quarter contract price, the new quarterly pricing mechanism is clearly under duress," he said.
"Our own view is that quarterly pricing based on a trailing average index may prove to be too cumbersome, and monthly price resets could ultimately be a more palatable mechanism for both buyers and sellers."
The top three global iron ore producers, Brazil's Vale, Rio Tinto and BHP Billiton, all pushed their customers off the annual benchmark on to quarterly indexed-based contracts.
Mr Southwood said while the investment bank continued to forecast a supply-constrained seaborne market in 2011, market participants remain focused on the near term, which he said was increasingly difficult to construct a "positive fundamentally driven price view".
"With seasonal factors also depressing demand, we see little prospect of a sustained improvement in market conditions during July-August," he said.
Macquarie's London-based analysts said Chinese mills had been running down their on-site inventory as sentiment turned sour.
"In our opinion, there is no obvious catalyst to arrest the current fall in the spot price, and we expect it to drift lower over the next month," Macquarie's team said in a report.
A drop in the spot price came as magnetite producer Grange Resources secured a 107 per cent jump in the annual iron ore pellet benchmark price in a sales deal with BlueScope Steel.
Grange announced yesterday BlueScope would pay $US150 a tonne for iron ore pellets delivered from Grange's Port Latta facility in Tasmania during the quarter beginning on July 1.
Grange chief executive Russell Clark said in addition to agreeing an interim price, the miner was also discussing a new pricing mechanism with BlueScope.
Source: The Australian / Hellenic Shipping
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Saturday, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
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- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
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- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
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