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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, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- The University of Queensland
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
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- Petron Corporation, Philippines
- Central Electricity Authority - India
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- Riau Bara Harum - Indonesia
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- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
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- International Coal Ventures Pvt Ltd - India
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- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
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- Planning Commission, India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- SMC Global Power, Philippines
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- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
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- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
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- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
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- PetroVietnam Power Coal Import and Supply Company
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- Mintek Dendrill Indonesia
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- Intertek Mineral Services - Indonesia
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- Australian Coal Association
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- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
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- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
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- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
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- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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- Indonesian Coal Mining Association
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- The State Trading Corporation of India Ltd
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- SN Aboitiz Power Inc, Philippines
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- Interocean Group of Companies - India
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- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
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- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
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- European Bulk Services B.V. - Netherlands
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- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
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- Siam City Cement PLC, Thailand
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- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
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- Romanian Commodities Exchange
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- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
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- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
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