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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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Thursday, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
Thursday, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
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- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
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