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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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Friday, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Posco Energy - South Korea
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
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