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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, 24 January 13
DRY BULK MARKET FALLS ON TROPICAL CYCLONE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on the downside during the past couple of days, mainly as a result of the tropical storm which forced ports to close do ...
Tuesday, 22 January 13
PORT OF ANTWERP HANDLES 7.0 PERCENT MORE COAL IN 2012 Y-Y
COALspot.com - The port of Antwerp handled 184,134,516 tonnes of freight last year.
This represents a drop of 1.6% compared with 2011, when the v ...
Monday, 21 January 13
NEWCASTLE PORT SHIPPED 10.21 PERCENT LESS COAL W/E 21 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,804,152 MT of thermal and coking coal for week ended 0700 hours 21 January 2013, Newca ...
Monday, 21 January 13
PANAMAX DRY BULK CARRIERS AND AFRAMAX TANKERS PROVED TO BE THE "WEAPON OF CHOICE" FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship financing getting ever so difficult to procure during the past year or so, ship owners had to get creative in order to persuade banks and ...
Sunday, 20 January 13
Q1 & Q4 SUB-BIT FOB INDONESIA COAL SWAPS: FIRM
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) and CFR South China coal shipment for average Q1’ 2013 delivery have gained 0.81percent and ...
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- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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