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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, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Australian Coal Association
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
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