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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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Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
Thursday, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
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- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- The University of Queensland
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
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