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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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Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
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- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- VISA Power Limited - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Minerals Council of Australia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
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