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Friday, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
 Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling with lower prices, and as most of the remaining mines have better attributes.
Fitch expects the government to continue introducing direct or indirect subsidies to support iron ore miners after a sharp downturn in iron ore prices in 2014 forced a slew of mines to close and increased China's reliance on imports, which reached an all-time high in 2014. The Chinese government recently said it would halve the resource tax on domestic iron ore producers to 40% from 80% from 1 May 2015, which would result in cost savings of about CNY6-15 a tonne for the miners.
Iron ore capacities in China that are still surviving either operate at lower costs, have higher grade products, are vertically integrated with steel mills, or are state-owned, which would make them less susceptible to closure.
According to the China Steel Association, the country's iron ore imports rose 13.8% in 2014 to 933 million tonnes, accounting for 78.5% of national consumption, and a 9.7pp increase from the previous year. Imports will continue to rise in 2015 as more Chinese miners shut, which will further strengthen the bargaining power of large international iron ore producers, something the Chinese government and the domestic steel industry would not want to see.
Chinese producers generally have higher production costs than their large global peers, and have struggled to compete as cheaper supply continued to flood the market. The industry association in China estimates that over 50% of Chinese iron ore mines produce at a cash cost of more than CNY500/tonne (USD81/tonne), compared with large global miners' USD20 35/tonne. Support from the Chinese government would provide a lifeline to keep domestic supply in the market for longer than would be otherwise possible.
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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Minerals Council of Australia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
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