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Wednesday, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
 After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the fourth quarter amid a drop in coal prices, industry sources said.
Some analysts said China's demand for imported coal could increase further in coming months, as a recent wave of coal mine closures triggered by a mine explosion could raise domestic coal prices, making imports more attractive.
Australian producers said Chinese buyers were mostly seeking off-specification coal, with high heating value and ash content, for delivery through the rest of the year, while some buyers were also keen to book in shipments for delivery in early 2010.
However, at least three Australian producers said they had little of this high ash coal available to sell, after having sold large amounts of this type of coal to China over the second quarter.
"The economics look like the Chinese are now in favour of Australian coal, and there is also a notable pickup in enquiries from them on the back of freight easing and lower coal prices," a marketing executive at a large local coal mining firm said.
"But there's not much of those coal grades available now. And given the export constraints, producers would rather keep some spare tonnage as we head into winter months in the northern hemisphere, when prices are expected to go higher."
Australia's thermal coal prices on the globalCOAL Newcastle weekly index have fallen about 13 per cent since August to hover near a three and a half month low around $U66 a tonne, based on free-on-board (FOB) prices at the Newcastle port.
The globalCOAL benchmark price is based on coal with a heating value of 6,322 kcal/kg (GAR) and a maximum ash content of 15 per cent.
But high ash coal that the Chinese typically buy is much cheaper.
Some producers offer coal with 20 per cent ash content as low as about $US61, which takes its landed price into China to between $US90 and $US93 a tonne - compared with a domestic landed cost of around $US97 a tonne for coal with a heating value of 5,800 kcal/kg (NAR).
Analysts said Asian coal prices were poised for a rebound on the back of rising Chinese imports.
"Seaborne thermal coal prices may receive support in coming months following the closure of hundreds of small Chinese coal mines due to an accident," commodities analyst at the Commonwealth Bank of Australia David Moore said in a note.
In Indonesia, the world's largest exporter of thermal coal, producers and traders said China's renewed interest in imports had helped to soak up the market's excess supplies.
A surprising spell of dry weather, along with a drop in domestic coal demand, has resulted in a deluge of Indonesian coal and prompted producers in recent months to sell their supplies at very low margins amid stiff competition and tepid demand.
"Demand from Cina has improved over the past few weeks and that's helping to inject life into a market that would otherwise be struggling very hard to get by," one Indonesian producer said.
"The Chinese are also driving a hard bargain, but we're happy as long as we're able to sell the extra tonnes."
Another Indonesian producer said the firm had sold about 200,000 tonnes of sub-bituminous coal into China over the past month, with prices fixed at around $US45.50 a tonne FOB, based on coal with a heating value of 4,700 kcal/kg (NAR) and a maximum of five per cent ash.
In related news, The City of Pingdingshan in central China's Henan Province has ordered all 157 coal mine shafts within its district to close, after a mine explosion killed 35 people, Xinhua News Agency reported.
Source: Business Spectator
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Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
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- Parliament of New Zealand
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- CNBM International Corporation - China
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- Baramulti Group, Indonesia
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- Vedanta Resources Plc - India
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- Interocean Group of Companies - India
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- Miang Besar Coal Terminal - Indonesia
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- IHS Mccloskey Coal Group - USA
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- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- PTC India Limited - India
- Central Java Power - Indonesia
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- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
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- Petrochimia International Co. Ltd.- Taiwan
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- PowerSource Philippines DevCo
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- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
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- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Merrill Lynch Commodities Europe
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- CIMB Investment Bank - Malaysia
- The University of Queensland
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
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- Lanco Infratech Ltd - India
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- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Eastern Energy - Thailand
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- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
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- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
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- Commonwealth Bank - Australia
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- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
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- Minerals Council of Australia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
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- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
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- Altura Mining Limited, Indonesia
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- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
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- Deloitte Consulting - India
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- The State Trading Corporation of India Ltd
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- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
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- Kartika Selabumi Mining - Indonesia
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