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Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
 COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and slower steel demand growth, says SGX Commodities 2014 Review.
According to SGX, spot prices remained depressed through 2014 as ‘take or pay’ continued to wreck havoc. Looking forward, deflationary pressures may hamper hopes of a near-term recovery, while policy changes have created further lingering uncertainties. Coking coal FOB & CFR prices declined 15.0% and 18.3% respectively during the first three months of the year, and remained relatively stable within a $10 per tonne range thereafter.
SGX’s commodities 2014 review further noted that, a combination of persistent oversupply, ample stockpiles within China, and lackluster underlying steel demand kept prices low through the year. In August 2014, SGX launched coking coal derivatives (FOB Australia & CFR China) in response to the increasing trend towards index-linked pricing across the industry.
A variety of factors have kept coking coal prices depressed for longer than many had previously forecast. Such factors include:
(i) a drive by major producers to lower unit costs by improving production efficiencies and increasing production (thereby also increasing market share);
(ii) ‘take or pay ’ rail commitments in Australia, often making it more economical to continue producing at a loss than to cease production (NB. Australia accounts for more than half of seaborne supply); and
(iii) cost deflation in the domestic Chinese coal industry.
Looking forward, SGX’s Commodities 2014 Review report says that, while many analysts have been calling a bottom in the coking coal price, the timing of any meaningful recovery remains far from clear. Supply cuts are indeed emerging. However, deflationary pressures such as falling resource currencies and a slump in oil prices may hinder the prospect of any significant recovery in the near-term. With a relatively flat cost curve, FX may also be an important variable.
Furthermore, there is uncertainty over the likely medium-term impact of the reduction in China’ s export tax on coking coal from 10% to 3% (effective 1 Jan 2015); Japanese and Korean mills used to procure coking coal from China and, while relative costs will be a factor, there may be a strategic argument to diversifying supply, SGX concluded.
SGX also launched coking coal derivatives in August 2014 in response to the increasing trend towards spot and index-linked pricing.
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Tuesday, 10 February 15
IRON ORE MARKET TO REMAIN OVERSUPPLIED IN 2015: PRICE FORECAST $70/T - WOOD MACKENZIE
COALspot.com: With January witnessing the price of iron ore falling to its lowest levels since May 2009, Roger Emslie, Principal Metals & ...
Tuesday, 10 February 15
SUB-BIT FOB INDONESIA COAL SWAP ADVANCES 3.79% WEEK ON WEEK
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 0.85 (+1.81%) month o ...
Tuesday, 10 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK OVER WEEK, RAISING HOPES?
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 0.95 per MT (+1.91%) week over week and declined US$ 0.06 (-0.12%) ...
Monday, 09 February 15
AUSTRALIAN COAL PRODUCERS BEST POSITIONED IN OVERSUPPLIED MARKET; US MINES MOST AT RISK - WOOD MACKENZIE
In a 2015 global coal outlook report, Wood Mackenzie says that Australia and Indonesian coal suppliers will see some upside in the difficult months ...
Monday, 09 February 15
FOB RICHARDS BAY COAL SWAP GAINS 3.65% TO ONE-MONTH HIGH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and day on day.
The Q2 swap has soared US$ 2.1 ...
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- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
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