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Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
 Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the Indian economy, spot prices of the raw material are expected to firm up in the international market.
Global prices of coking coal, which are currently hovering around $160-170 a tonne, are expected to harden further and reach $200 a tonne in 2010-11, says a report by Citi Investment Research and Analysis, a division of Citigroup Global Markets Inc.
The report has projected the price of the semi-soft variety of coking coal at $120 a tonne, up from the existing price of around $100 a tonne.
The sea-borne coking coal prices have sharply moved from $130 a tonne to $160-170 a tonne in the past three-four months as Chinese imports of the raw material have increased exponentially this year.
Coking coal imports by China are projected at 25.5 million tonnes this year, a 269.56 per cent jump over 2008. The surge is attributed to a dip in the country’s domestic production as it plans to close more than 4,000 small coal mines by 2010 to improve safety and drive consolidation in the coal sector.
“The spot prices of coking coal in Australia have touched $170 a tonne and this upward movement in prices is mainly due to an unexpected growth in imports by China. In fact, imports by the country in the past six months is comparable to what it usually imports in a period of 18 months”, said Ganesan Natarajan, president and chief executive officer, Ennore Coke.
Ennore Coke, a domestic manufacturer of metallurgical coke, which uses imported coking coal as the raw material, had settled its contracts for 2009-10 at around $130 a tonne with the international suppliers. However, Natarajan ruled out any further hardening of prices and said that premium hard coking coal rates in 2010-11 are expected to remain at the current level of $170 a tonne.
Dipesh Dipu, principal consultant, Pricewaterhouse Coopers said, “The coking coal prices in the short run, particularly in the second half of the year, may depend on the impact of Chinese order for the smaller mines to merge with the larger ones. The prices in 2011 are also expected to be in line with the prevailing prices or may be a few dollars higher than those of 2010.”
He indicated that the increase in global coking coal prices was set to impact the operations of the domestic steel makers who heavily depend on imports for their requirements.
Higher coking coal prices would mean greater contract prices for the domestic steel makers and this is bound to impact their margins, concurred Shashi Kumar, advisor (coal), NTPC and former chairman, Coal India Ltd (CIL).
Apart from coking coal prices, the outlook for thermal coal prices is also robust and the contract price for this variety of coal is projected at $80 a tonne in 2010-11.
“The spot price for internationally traded thermal coal in the second half of this financial year is likely to hover around $70 a tonne. This may primarily be attributed to strength in demand from power producers in emerging markets, including India”, said Dipu.
In the domestic market, CIL has sought a moderate hike in coal prices as its average prices were 30-40 per cent cheaper than the prevailing international prices. The prices of coal in India were last revised in December 2007.
Source: Business Standard
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Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
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