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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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
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