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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, 20 January 15
INDONESIAN COAL OUTPUT SEEN RISING, DESPITE FALL IN ITS PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week, but Indonesian Coal Output Seen Rising. T ...
Tuesday, 20 January 15
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY DECLINED 2.83% M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 1.45 per MT (-2.83%) month over month and US$ 0.50 (-0.99%) we ...
Monday, 19 January 15
HBA FALL TO FRESH LOWS; COAL OVERSUPPLY WILL CONTINUE TO PUSH PRICE DOWN
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 63.84. T ...
Monday, 19 January 15
CFR SOUTH CHINA COAL SWAPS REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 3.37 (-5.63%) per MT month over month and US$ 0.74 (-1.29%) ...
Monday, 19 January 15
FOB RICHARDS BAY COAL SWAP FOR Q4 DELIVERY CLOSED 4% LOWER THAN Q1 DELIVERY PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and week over week.
The Q1 swap has f ...
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- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
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