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Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
 Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in the country. Under the proposal approved by the Indian government, the royalty rate on iron ore will be increased to 15% from 10%. The government has not yet said when the increase will be implemented.
The higher royalty rates will raise the input costs of Indian steel producers by USD 2-5 per tonne of steel produced, depending on the type and grade of iron ore used. Fitch expects iron ore mining companies in India, which largely supply domestic users, to be able to pass on the increase given tight supply domestically, raising the input costs for both integrated and non-integrated steel producers.
Fitch expects steel producers to be able to pass on their higher costs to consumers because of a likely improvement in steel demand in India. As a result, the higher royalty is unlikely to have a major impact on Indian steel producers' profit margins.
Fitch expects steel demand growth to start to improve from the second half of the fiscal year ending 31 March 2015 (FY15), supported by a pick-up in consumption following rising consumer sentiments and an expected improvement in economic growth. The improving consumer sentiment is reflected in passenger vehicle sales data compiled by the Society of Indian Automobile Manufacturers - sales volumes during June and July 2014 rose from a year earlier, compared with a 6% fall in FY14.
Steel demand in India was weak during FY14 with consumption rising by just 0.6% to 73.9 million tonnes, according to data from Joint Plant Committee, a government body that collects data on the iron and steel industry. This was due to slow growth in the key steel consuming industries of automobiles, infrastructure, construction and engineering.
Iron ore exporters, who already pay high export duties on their shipments, will face slimmer profit margins following the increase in royalty. Iron ore exports (other than pellets) already attract export duty of 30%. India largely exports lower grade iron ore fines. The additional costs while global iron ore prices remain weak will significantly impact the competitiveness of iron ore exports from the country.
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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
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- Trasteel International SA, Italy
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- Coalindo Energy - Indonesia
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- Price Waterhouse Coopers - Russia
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- Petron Corporation, Philippines
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- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
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- Mercator Lines Limited - India
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- New Zealand Coal & Carbon
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- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
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- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
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- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- The University of Queensland
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- White Energy Company Limited
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- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Goldman Sachs - Singapore
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- Georgia Ports Authority, United States
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- India Bulls Power Limited - India
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- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
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- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
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- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
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- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
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- Miang Besar Coal Terminal - Indonesia
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- Port Waratah Coal Services - Australia
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- Australian Commodity Traders Exchange
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- PetroVietnam Power Coal Import and Supply Company
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- Thiess Contractors Indonesia
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- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
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- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
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- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
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- Rashtriya Ispat Nigam Limited - India
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- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
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- Ministry of Finance - Indonesia
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- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
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- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
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