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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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Wednesday, 02 January 13
NEWCASTLE PORT SHIPPED 23.61 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,533,183 MT of thermal and coking coal for week ended 0700 hours 31 December 2012, Newc ...
Wednesday, 02 January 13
DRY BULK MARKET TO STAY ELEVATED IN START OF 2013 BUT THE NEW YEAR WILL NOT BE WITHOUT TURBULENCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted, that Capesize time-charter rates are expected to stay elevated in the following six ...
Monday, 31 December 12
KOSEP IS LOOKING FOR 280K MT OF 4600 NCV COAL FOR APRIL - JUNE 2013
COALspot.com : South Korean state-owned utility Korea South-East Power Co., Ltd. (KOSEP), has issued an new tender for prompt supply of 280,00 ...
Monday, 31 December 12
VALE CELEBRATES ARRIVAL OF "VALE SOHAR" BULK CARRIER TO SULTANATE WITH MEMBERS OF COMMUNITY
'Vale Sohar', one of the largest bulk carriers in the world, was welcomed to Oman by members of the North Al Batinah community headed by H.E. Shei ...
Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly repor ...
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- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
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