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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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Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
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- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Anglo American - United Kingdom
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