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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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Tuesday, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
Monday, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
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- White Energy Company Limited
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- Indonesian Coal Mining Association
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- SMC Global Power, Philippines
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- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
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- Merrill Lynch Commodities Europe
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- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
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- Minerals Council of Australia
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- Planning Commission, India
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- Alfred C Toepfer International GmbH - Germany
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- Australian Commodity Traders Exchange
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- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
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- PetroVietnam Power Coal Import and Supply Company
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- European Bulk Services B.V. - Netherlands
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- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
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- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
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- Larsen & Toubro Limited - India
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- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
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- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
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- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
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- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
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- Sojitz Corporation - Japan
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- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
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- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
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- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
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- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
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