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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, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
Thursday, 03 January 13
DRY BULK DEMAND TO KEEP RISING IN 2013, DRY BULK SHIP PRICES TO KEEP FALLING SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In a recent report on the future of the shipping markets, DVB bank said that dry bulk demand is expected to keep on growing in the coming years, mai ...
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- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- White Energy Company Limited
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
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