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Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
 The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013, but is unlikely to be sustainable due to the weak demand for steel, Fitch Ratings says. This should help margins recover later in the year.
While we expect margin pressures to abate, iron ore prices have become more volatile as supply contracts have moved from annual to quarterly or spot pricing, with volatility rising 16% in 2012. This means that both higher-cost producers and consumers of iron ore face higher uncertainty on cash flows.
Iron ore prices have risen around 30% since the start of December, while the price of semi-finished steel products has remained practically unchanged, putting pressure on profits at steelmakers that don't have their own ore supplies. The recovery of iron ore prices follows a fall to their lowest level in more than three years in September. This primarily resulted from destocking by Chinese steel mills. It is likely that the fall in prices resulted in some Chinese mines temporarily halting production, providing further impetus for a price rebound.
But the balance of power in price negotiations is likely to swing back towards steel producers for the rest of the year due to the slowing growth in demand for steel products. Steel producers are unable to transfer increased iron ore costs to customers through an increase of steel products' prices and also have limited ability to absorb increased costs by themselves due to already low operating margins. In Europe weak demand from the construction and automotive markets will lead to a drop in steel production, while in China we believe the rate of steel demand growth has peaked - although production volumes will continue to increase, the rate of growth is likely to be below 5% a year.
These trends mean we expect the ratio of iron ore to steel slab prices to remain close to the 2012 level of 0.25x, rather than the high of 0.29x reached in 2010.
Source: Fitch Ratings
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Saturday, 23 March 13
WORLD COAL TRADE FIRST PASSES 1 BILLION TONS IN 2012 - VEREIN DER KOHLENIMPORTEURE E.V
Press Release: Hard coal imports to Germany on the previous year's level in spite of regenerative energies. Imports for power plants at an all-time ...
Thursday, 21 March 13
HANDY : RBCT ROUNDS FIXED AT $ 9000 + 300K BB - FEARNRESEARCH
Handy
The Atlantic market remains firm with cargoes seen to support healthy rates as per last week. The USG-Feast was at USD 25k and Black Sea-Feas ...
Wednesday, 20 March 13
NTPC TO IMPORT SEVEN MILLION TONS COAL FOR FOUR MONTHS
COALspot.com : NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company has awarded&n ...
Tuesday, 19 March 13
CHINA GAS PRICE REFORMS AND APAC GAS PRICING - FITCH STREET VIEW
Fitch Ratings says pricing reform in the Chinese gas sector is unlikely to materially impact gas distributors' margins, and low gas prices in the U ...
Tuesday, 19 March 13
NEWCASTLE COAL EXPORTS FALL BY 4.27 PERCENT ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,365,561 MT of thermal and coking coal for week ended 0700 hours 18 March 2013, Newcast ...
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- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Planning Commission, India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
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