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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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Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- The University of Queensland
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- PTC India Limited - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
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- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
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- Sojitz Corporation - Japan
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- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
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- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
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- The Treasury - Australian Government
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- Cement Manufacturers Association - India
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- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
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- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
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- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
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