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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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Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Australian Coal Association
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
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