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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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Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
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- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Australian Coal Association
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
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