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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, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE
Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in ...
Monday, 07 September 09
INDIA MAY BOOST COAL IMPORTS FROM INDONESIA - PLAN JVS
WSJ reported taht, India agreed to study setting up joint ventures with Indonesian companies to acquire coal assets, and look at other means of impo ...
Monday, 07 September 09
INDIAN COAL MAY NOT POWER NEW UMPPS
The Economic Times reported that, bidders for new ultra mega power projects (UMPP) may not get assured coal supplies from domestic mines. As per the ...
Saturday, 05 September 09
THE ECI / CHINA (S7) ROUTE SOFTENED BY ALMOST 12% AND THE CHARTER HIRE WAS AT US$ 16,346 PER DAY - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI almost same as last week at 2,415 points.The Panamax index went up b ...
Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
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- Eastern Energy - Thailand
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- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
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- Australian Coal Association
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- Semirara Mining Corp, Philippines
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- Petron Corporation, Philippines
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- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
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- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
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- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
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- Dalmia Cement Bharat India
- London Commodity Brokers - England
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- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
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- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
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- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
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- Sree Jayajothi Cements Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Indian Oil Corporation Limited
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- Videocon Industries ltd - India
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- Goldman Sachs - Singapore
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- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
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- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
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- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
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- Indika Energy - Indonesia
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- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
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- VISA Power Limited - India
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- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Ministry of Mines - Canada
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