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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, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the four ...
Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it ...
Wednesday, 09 September 09
NTPC HIRES MACQUARIE TO ADVISE INDONESIA COAL MINE PURCHASE
Bloomberg reported that, NTPC Ltd., Asia’s biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine pur ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Tuesday, 08 September 09
INDIA MAY HAVE A JOINT WORKING GROUP FOR COAL WITH INDONESIA: SRIPRAKASH JAISWAL - PRESS RELEASE
Press Information Bureau of India reported in its web site that, The Coal Ministry has, in principle, agreed to set up a Joint Working Group for coa ...
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- Directorate General of MIneral and Coal - Indonesia
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- Independent Power Producers Association of India
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- Intertek Mineral Services - Indonesia
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- Ministry of Mines - Canada
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- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
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- Maharashtra Electricity Regulatory Commission - India
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- South Luzon Thermal Energy Corporation
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- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
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- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
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- Price Waterhouse Coopers - Russia
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- Parliament of New Zealand
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- Metalloyd Limited - United Kingdom
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- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
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