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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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Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
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- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
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