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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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Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heav ...
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- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Australian Coal Association
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
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