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Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
 China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore and coking coal and widens premiums and discounts for the products’ various grades relative to benchmarks, say Fitch Ratings and CRU. The effect on individual miners’ cash flow depends on the prevailing product grade in each company’s portfolio.
We expect the wider premium and discount relationships to persist in the short term, but for the gap to tighten over time. This mutes the effect on miners’ ratings, as we rate on our mid-cycle long-term pricing assumptions and the ratings already capture the miners’ product quality.
China’s steel sector has undergone significant reform since March 2016, eliminating 260 million tonnes of capacity and increasing capacity utilisation to above 85%, from 70%-75%. Enhanced efficiency and maximisation of blast furnace output has seen record premiums for high-grade iron ore and coking coal, as premium input materials improve steelmaking productivity. Discounts for lower-grade products have widened due to lower demand.
However, there is an upper threshold for the price of high-grade iron ore that steelmakers are willing to pay, as blast furnace productivity is a function of numerous variables, including injection rates, oxygen and pellet usage as well as coke strength after reaction. These variables are more likely to be employed if the premium on higher-grade iron ore remains high, resulting in a narrowing price differential between various iron ore grades in the long term. Similarly, we expect the price difference between premium coking coal and standard coking coal to come closer to the historical 25%-30%, down from the recent 40%-65% range.
Brazil-based Vale’s (BBB+/Stable) cash flow benefits the most from the prevailing pricing conditions due to its high-grade iron ore content of over 64% across the portfolio, with a number of assets producing 65% ore. The cash flow of Australia-based Fortescue (BB+/Stable) will suffer due to wider discounts on its 56%-59% ore, while that of BHP (A+/Negative) and Rio Tinto (A/Stable) will remain largely unaffected due to an average iron content of 61%-62% produced in their mines. However, BHP is set to benefit from the record premium coking-coal price difference due to its large portfolio of premium coking-coal assets.
Source: Fitch Ratings
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Friday, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
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Thursday, 09 August 18
RIO TINTO COMPLETES SALE OF REMAINING COAL ASSETS
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion.
According to a noted post ...
Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cate ...
Friday, 03 August 18
PHEW! ASIA, EUROPE HEATWAVE PUSHES AUSTRALIA COAL PRICES TO 6-YEAR HIGH: REUTERS
Australian thermal coal prices have hit fresh six-year highs as a heatwave across the northern hemisphere has triggered a spike in demand for coal- ...
Friday, 03 August 18
HBA HAS RISEN 28.41 PER CENT IN A YEAR TO BE AT THEIR HIGHEST LEVELS SINCE JANUARY 2012
COALspot.com: The benchmark price of Indonesian thermal coal has risen 28.41 per cent in a year to be at their highest levels since January 2012.&n ...
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Showing 1651 to 1655 news of total 6871 |
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- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
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