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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, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
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- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
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