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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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Friday, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
Thursday, 07 March 13
PANAMAX : POSITIVE TREND; CAPESIZE : GRADUALLY SLIDE - FEARNLEYS AS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 22k and Black sea-feast was at USD 12k. The ...
Tuesday, 05 March 13
NEWCASTLE PORT SHIPPED 20.77 PERCENT MORE COAL W/E 4 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,631,562 MT of thermal and coking coal for a week ended 0700 hours 4 March 2013, Newcas ...
Sunday, 03 March 13
INDONESIAN THERMAL COAL SWAPS; CHINA CONTRACTS FALL W-O-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent and CFR South China coal shipment&nbs ...
Sunday, 03 March 13
FREIGHT MARKET FROM INDONESIA EXPECTED TO BE FIRM - VISTAAR
COALspot.com – The freight market has been fairly firm this week except for cape size index.
The BDI was up by 4.64 points closing at 776 p ...
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- Economic Council, Georgia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
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