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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, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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- Anglo American - United Kingdom
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
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