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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, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Planning Commission, India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
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- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
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- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
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- South Luzon Thermal Energy Corporation
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- MS Steel International - UAE
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- Jorong Barutama Greston.PT - Indonesia
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- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
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- New Zealand Coal & Carbon
- Latin American Coal - Colombia
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- Central Java Power - Indonesia
- Romanian Commodities Exchange
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- Sindya Power Generating Company Private Ltd
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- Indonesian Coal Mining Association
- White Energy Company Limited
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- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- The Treasury - Australian Government
- PTC India Limited - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- The University of Queensland
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- Indian Oil Corporation Limited
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- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
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- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
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- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
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- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
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- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
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- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
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- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
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