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Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
 Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this month prompted the government to close unregulated pits, Everbright Securities Co. said.
The supply cut, equal to 5 percent of the country’s monthly consumption, may raise Chinese prices by 8.2 percent, or 100 yuan a ton, analyst Jiang Jianjun said by phone from Shanghai. Coking coal is used to make steel.
The Sept. 8 gas explosion at the Pingdingshan coal mine forced the Chinese government to halt production at all the city’s 157 mines, cutting coal output in the Henan province by as much as 17 percent, the official Xinhua News Agency said then. The closure may benefit larger listed coal producers, Jiang said.
“Mine closures in Pingdingshan may last two months and also spur a nationwide campaign to shut small pits,” he said. The city may reduce coking coal supply by 700,000 tons a month, he said.
Shanxi Xishan Coal & Electricity Power Co., the nation’s biggest listed coking coal producer, fell 1.2 percent to 35.24 yuan at 2 p.m. in Shanghai trading. The stock has gained 15 percent since the explosion. Pingdingshan Tianan Coal Mining Co., up 7.3 percent since the accident, dropped 2.3 percent.
China, the world’s largest steelmaker, would be demanding more high quality hard coking coal in the future as it expands mills, BHP Billiton Ltd. said today in a slide presentation. The Asian nation this year “emerged” to fill a demand gap for coking coal, the world’s largest mining company said.
Higher Prices
The mine accident killed at least 54 people. Coal mines killed 3,770 workers in China in 2007, making them the world’s deadliest. China produced 705.1 million tons of coking coal last year, according to Beijing Antaike Information Development Co.
Small mines contribute to a “big portion” of China’s coking coal production, Everbright’s Jiang said. In Shanxi, the nation’s biggest coal-making province, medium-to-small mines account for 60 percent of the output, he said.
China boosted steel production 22 percent to a record 52.3 million tons in August, the fourth straight monthly gain, as the government’s $586 billion stimulus spending spurred domestic demand from automakers and builders.
Coking coal prices have risen 6.1 percent since May to 1,220 yuan a ton in Pingdingshan, according to industry researcher Steelhome.
Prices of imports bought by Jiangsu Shagang Group Co., China’s fifth-largest steelmaker, were 1,500 yuan a ton in August, Jiang said, without giving comparisons. The imported coal is of better quality than the average output from Pingdingshan, he said.
Source: Bloomberg
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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 four ...
Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it ...
Wednesday, 09 September 09
NTPC HIRES MACQUARIE TO ADVISE INDONESIA COAL MINE PURCHASE
Bloomberg reported that, NTPC Ltd., Asia’s biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine pur ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Tuesday, 08 September 09
INDIA MAY HAVE A JOINT WORKING GROUP FOR COAL WITH INDONESIA: SRIPRAKASH JAISWAL - PRESS RELEASE
Press Information Bureau of India reported in its web site that, The Coal Ministry has, in principle, agreed to set up a Joint Working Group for coa ...
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- Sarangani Energy Corporation, Philippines
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- Ceylon Electricity Board - Sri Lanka
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- Mercuria Energy - Indonesia
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- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
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- ICICI Bank Limited - India
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- Indian Oil Corporation Limited
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- Tata Chemicals Ltd - India
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- Intertek Mineral Services - Indonesia
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- Ministry of Mines - Canada
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- White Energy Company Limited
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- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
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- Antam Resourcindo - Indonesia
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- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
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- Mintek Dendrill Indonesia
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- Riau Bara Harum - Indonesia
- Parliament of New Zealand
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- Sinarmas Energy and Mining - Indonesia
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- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
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- Madhucon Powers Ltd - India
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- AsiaOL BioFuels Corp., Philippines
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- Deloitte Consulting - India
- Vedanta Resources Plc - India
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- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
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- Metalloyd Limited - United Kingdom
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- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
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- Indo Tambangraya Megah - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
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- Alfred C Toepfer International GmbH - Germany
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- Dalmia Cement Bharat India
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- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
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