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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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- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
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- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
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- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
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- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
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- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
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- Rashtriya Ispat Nigam Limited - India
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- India Bulls Power Limited - India
- Deloitte Consulting - India
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- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- The University of Queensland
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
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- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
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