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Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
 Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high-cost mines, Fitch Ratings says.
We expect market leaders BHP Billiton, Rio Tinto and Vale to continue increasing production in 2015 despite falling prices, as they are also the lowest-cost producers. This is likely to outweigh the impact of any shut-downs among higher-cost producers in the near-term. We also expect annual growth in Chinese crude steel production to slow to around 1% or less in 2015.
These factors are reflected in our recent decision to cut the price assumptions we use for rating purposes. Our iron ore spot price assumptions on a cost and freight basis are now USD50 per tonne in 2015 and 2016, compared to USD65 and USD75 previously. We have also lowered our long-term price assumption to USD70 from USD80.
In the short-term, prices are also likely to remain volatile as markets reassess their expectations for Chinese steel output, the rate at which higher-cost producers are forced to exit the market and a potential slowing of capacity growth among the major iron ore producers.
The rate of shut-downs among higher-cost producers has been slowed by cyclical cost reductions as cost pressures in regions such as Western Australia have fallen. The drop in oil prices has also helped ease pressure on some miners and means that overall companies will stay in the market for longer. Government efforts to support the industry, including a halving of the resource tax on domestic iron ore producers, should also slow the rate of iron ore mine closures in China in 2015.
Other high-cost producers, particularly state-owned companies, are also likely to continue operating despite having costs well over USD50 a tonne. In the fourth-quartile of the cost curve, we expect companies with nearly 100 million tonnes of annual production to continue operating. This will transfer some pressure to miners in the third-quartile, which includes smaller higher cost Australian producers and also companies such as African Minerals and London Mining in West Africa.
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Monday, 11 May 15
CFR SOUTH CHINA COAL SWAP: DECLINED MOM AND WOW
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.46 (-0.90%) per MT month over month and US$ 0.28 (0. ...
Monday, 11 May 15
KOREA MIDLAND POWER INVITES BIDS FOR 140K MT OF 4600 NAR COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued a new tender to buy total 140,000 Metric Tons (MT) of Sub-bitumi ...
Sunday, 10 May 15
FREIGHT RATES TO REMAIN SOFT NEXT WEEK
COALspot.com: The freight market was flat to soft week over week except for the Cape Index which was up 7.32%. Cape index was closed at 616 p ...
Friday, 08 May 15
BUSIEST CAPESIZE DEMOLITION MARKET EVER - BIMCO
The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage.
The dry bulk market has long suffered f ...
Friday, 08 May 15
COAL PRODUCTION IN U.S. UP 3.2% THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
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- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- The University of Queensland
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
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