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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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Saturday, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
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- Planning Commission, India
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- Trasteel International SA, Italy
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- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
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- Meenaskhi Energy Private Limited - India
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- GAC Shipping (India) Pvt Ltd
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- Ministry of Transport, Egypt
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- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
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- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
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- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
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- PTC India Limited - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
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- Central Electricity Authority - India
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- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
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- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
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- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
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- Chamber of Mines of South Africa
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- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
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- Directorate General of MIneral and Coal - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
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- White Energy Company Limited
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