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Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
 Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input costs due to an 11 per cent increase in coal price by state-owned Coal India (CIL).
Leading players such as ACC, Ambuja Cements, J K Cement and Shree Cement are unlikely to pass on the burden of increased coal price to consumers as the firms are leaving the rates to be decided by 'market forces'. Cement manufacturers depend heavily on coal to power their plants.
"There is no chance of a price increase right now. It will depend on the movement of the market...But because of the move (by CIL), cost of cement production will go up by about 5 per cent," Cement Manufacturers Association President H M Bangur told PTI.
Bangur, who is also the managing director of Shree Cement, however, added that the companies have to decide whether this burden will be passed on to consumers or be absorbed.
The country's largest cement producer ACC said the industry is not a "cost plus" one and prices that the players can realise from the market depend on demand-supply scenario.
"Our ability to pass on such administered cost increase do not depend on our wish to do so, but on market realities," ACC Managing Director Sumit Banerjee said.
He said if at all there is a price increase, it cannot be the same across the country, but will vary from town to town and district to district.
ACC requires about 4.5 million tonnes of coal every year, of which about 55 per cent are linkage coal procured from public sector coal firms, he said adding that CIL's move to increase coal prices may also lead to a surge in the rates of the fuel in open market.
Ambuja Cements also said cement prices are unlikely to be revised upward as demand has fallen, mainly on account of heavy rains at many places last month.
"Prices are declining in South after heavy rains in Andhra Pradesh, Karnataka and other states. It is under pressure in Uttar Pradesh... Also people do not undertake construction activities during festive season...There is slump in demand," Ambuja Cements Managing Director A L Kapur said.
The firm procures 40-50 per cent of its coal requirements from CIL.
J K Cement Group Executive President R G Bagla said the company is unlikely to hike the rates at present as price movement is dependent on market forces.
After a gap of two years, CIL had hiked coal prices by an average 11 per cent last week.
Source: Business-Standard
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Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
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- TNB Fuel Sdn Bhd - Malaysia
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- Eastern Energy - Thailand
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- Aboitiz Power Corporation - Philippines
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- Chamber of Mines of South Africa
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- International Coal Ventures Pvt Ltd - India
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- Mintek Dendrill Indonesia
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- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
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- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
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- Indian Energy Exchange, India
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- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
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- MS Steel International - UAE
- Marubeni Corporation - India
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- Global Business Power Corporation, Philippines
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- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
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- Indian Oil Corporation Limited
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- Economic Council, Georgia
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- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- The University of Queensland
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- Videocon Industries ltd - India
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- Holcim Trading Pte Ltd - Singapore
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- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
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- Standard Chartered Bank - UAE
- Planning Commission, India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
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- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
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- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
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- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
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- IEA Clean Coal Centre - UK
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
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- Port Waratah Coal Services - Australia
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- Independent Power Producers Association of India
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- Merrill Lynch Commodities Europe
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