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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 $US150 a tonne for iron ore pellets delivered from Grange's Port Latta facility in Tasmania during the quarter beginning on July 1.
Grange chief executive Russell Clark said in addition to agreeing an interim price, the miner was also discussing a new pricing mechanism with BlueScope.
Source: The Australian / Hellenic Shipping
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
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