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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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Wednesday, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
COALspot.com: The combination of holidays and a shaky market is always a recipe for additional pressure on rates and last week was no exception. Wi ...
Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so fa ...
Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 1 ...
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- Minerals Council of Australia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Planning Commission, India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Economic Council, Georgia
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