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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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Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
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- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Parliament of New Zealand
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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