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Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
 Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bottom in the early part of this year have been rising since. Thermal coal dropped sharply last year hitting a trough in January before staging a small recovery in the spring only to slide back in the second quarter.
China, not surprisingly, is the world’s largest producer and consumer according to China Coal Resources. Coal producers and consumers have been locked in negotiations over the contract price which has made producers cautious about raising production, so consumers have turned to the international market and imports soared in Q2 to 16.1m tons per month as power production has risen. Since then, imports have dropped in July to 13.9m tons and again to 11.774m tons in August but stocks at ports are still relatively low and electricity production is up for the year as the country enters the colder peak winter months. This compares to a monthly average of 3.4m tons in 2008.
To what extent China will maintain this level of consumption and in particular imports remains to be seen. China Coal Resources predicts demand will remain strong due to continued industrial growth and the coming winter months of peak demand, but some observers believe the fading effects of the H1 stimulus package will reduce demand across the economy. Power station stocks are said to be lower now than in the Q2 so unless the domestic producers raise production and reduce prices to compete with imports it is unlikely China demand on regional suppliers is going to diminish significantly in the last quarter.
After falling steadily this year global spot prices as reflected at Australia’s Newcastle terminal climbed in mid September reflecting the strong demand. Recently, China’s Ministry of Finance unveiled measures to release special funds to support the shutdown of small coal mines. Local governments will get financial support from the central government to speed up the rationalization and closure of small mines notorious for their poor safety record. The remaining state mines will then be able to consolidate their hold on the domestic thermal coal market around the whole country. Their primary focus will be to maximise returns which means they will aim to keep both capacity utilization and prices optimized. Imports will therefore probably remain robust and on the back of that, Asian prices for thermal coal can be expected to rise during the winter.
Source: Ag Metal Miner
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Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
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- Globalindo Alam Lestari - Indonesia
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- Coal and Oil Company - UAE
- Planning Commission, India
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- Jaiprakash Power Ventures ltd
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- Port Waratah Coal Services - Australia
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- OPG Power Generation Pvt Ltd - India
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- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
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- ICICI Bank Limited - India
- Parliament of New Zealand
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- Indo Tambangraya Megah - Indonesia
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- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
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- Sindya Power Generating Company Private Ltd
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- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
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- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
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- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
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- Malabar Cements Ltd - India
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- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
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- Parry Sugars Refinery, India
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- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
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- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
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- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
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- Australian Coal Association
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