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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- London Commodity Brokers - England
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
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